Page 4 - Mercedes Benz

Mercedes-Benz slashes China EV prices by up to $33,000 as sales lag

The luxury automaker said in a statement on its website late Tuesday that it was reducing prices on certain models from its EQ range, effective Wednesday, and that it would provide subsidies

Mercedes-Benz India records Rs 441-cr PAT in FY23 after two years of losses

Luxury carmaker Mercedes-Benz India recorded a profit after tax of Rs 441.4 crore in the fiscal ended March 31, 2022, after two years of losses, according to financial data accessed by business intelligence platform Tofler. The company, which is not a publicly listed entity, had posted a loss after tax of Rs 107.1 crore and Rs 86.5 crore in 2020-21 and 2019-20 respectively. Revenue from operations in FY22 were at Rs 6,188.5 crore. This was the company's highest revenue after FY19 when it had clocked Rs 6,314.3 crore with a profit after tax of Rs 311.4 crore. In the fiscal ended March 31, 2021, the company's revenue from operations had dipped to Rs 3,639 crore with the pandemic impacting vehicle sales. In FY20, the company's revenue from operations was at Rs 4,819 crore, as per the Tofler data. Mercedes-Benz India's operating revenue in the year ended March 31, 2018 was at Rs 6,077.9 crore and it had posted a profit after tax of Rs 306.6 crore. In terms of unit volume sales, ...

Mercedes-Benz India sees accelerated growth in top-end car sales

Mercedes-Benz India has said it is witnessing an accelerated growth in sales of its top-end cars priced above Rs 1 crore, having sold 68 per cent more such vehicles in the first nine months of 2022. According to the company's Vice President - Sales and Marketing - Santosh Iyer, the company, which sold 11,469 units in the January-September period this year surpassing what it sold in the whole of 2021, has seen 30 per cent of its sales coming from its top-end vehicles. Mercedes-Benz India had sold a total of 11,242 units in 2021. "If I look at it internally, we are seeing 68 per cent growth in our TEV segment, which is our top-end luxury segment, compared to the overall growth of 28 per cent. Today, 30 per cent of our sales are in top-end vehicles, cars above Rs 1 crore price. So, that shows again the maturity of the Indian luxury car market," Iyer told PTI. Earlier, the luxury car market was more driven by entry level cars but today the mix is changing and the maturity is much highe

Mercedes-Benz reports 28% rise in sales in India at 11,469 units in Jan-Sep

German luxury carmaker Mercedes-Benz on Wednesday reported a 28 per cent rise in sales in India at 11,469 units in the January to September period this year, surpassing what it sold in the whole of 2021. The company had sold 8,958 units in the same period last year, Mercedes-Benz India said in a statement. "Our sales are at pre-pandemic level, having crossed CY 2021 sales numbers in the first nine months this year. The current market momentum gives us the confidence for striving to achieve our highest sales ever," Mercedes-Benz India Managing Director & CEO Martin Schwenk said. Mercedes-Benz India had sold a total of 11,242 units in 2021. The sales growth witnessed this year so far is despite supply shortages and has been on the back of a "young product portfolio, resurgent customer sentiment scaling up businesses and the ongoing festive period", the company said. The total order bank of Mercedes-Benz India as of September 2022 is over 7,000 units, it added. The company said high

Majority of Mercedes-Benz models in India to be EVs by 2030: CEO Schwenk

Mercedes-Benz's first electric car in India was the EQC, launched in 2020

Macro issues not impacting demand: Mercedes India CEO Martin Schwenk

With the launch of the EQB by year-end, Mercedes will have a portfolio of four EVs. It expects a fourth of its sales in India to come from electric in the next five years

Merc's new EQS stays focused on luxury and comfort, EV or not

Globally, this car is priced at around $150,000 or Rs 1.2 crore; there's little surprise then that its price doubles to Rs 2.4 crore in India given the outlandish duties that CBU cars attract

Car brakes applied 5 seconds before crash: Mercedes on Mistry's crash

Luxury carmaker Mercedes-Benz has submitted its interim report on the fatal accident of industrialist Cyrus Mistry to the Palghar police, which mentions that the brakes of the vehicle were applied five seconds before it crashed into the road divider, a senior official said on Friday. He also said that a team of experts from Mercedes-Benz is scheduled to visit Mumbai on Monday from Hong Kong to carry out an inspection of the car. Meanwhile, the German automaker said in a statement that it was cooperating with the authorities in the investigation of the car crash and will share the findings only with them as it respects customer privacy and confidentiality. Mistry (54) and his friend Jahangir Pandole were killed on Sunday afternoon when their Mercedes car hit a road divider in Palghar district. Two other car occupants, Anahita Pandole (55), who was at the wheel, and her husband Darius Pandole (60) suffered injuries and were admitted to a private hospital in Mumbai. The accident occur

Santosh Iyer to lead Mercedes in India as Martin Shwenk moves to Thailand

Youngest and first Indian to be appointed for the top job

A backlog of 653,000 units: Carmakers stare at a long road to delivery

Year-on-year dispatches to dealers (counted as sales) declined during most of FY22

Mercedes-Benz in top gear, sees the highest ever June quarter sales

Deliveries in the first half of 2022 also advanced at a brisk pace, soaring 56 per cent to 7,573 units in the January-June period

Mercedes India clocks highest ever sales of 3,551 units in June quarter

The company had sold 1,664 units in the April-June period of 2021

No slowdown for India's super-rich as super-luxury cars sell like hot cakes

According to a report, the sales of super-luxury cars, priced over Rs 2 crore, are likely to cross pre-pandemic levels in 2022

Mercedes to recall 1 million cars on fear of faulty breaks: Report

The regulator, known as KBA, said that the affected cars were built between 2004 and 2015

$142-million Mercedes-Benz smashes Ferrari's classic car record: Report

A 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupe sold for €135 million ($142 million) in a secret auction in Germany on May 5, Mercedes-Benz Chairman Ola Källenius has confirmed

Mercedes-Benz logs record sales in India, sees luxury car market reviving

Company says spike in order is driven by the new C-Class model that starts at Rs 55 lakh (ex-showroom).

Mercedes recalls more than 292,000 vehicles to fix problem with brakes

The recall covers certain ML, GL and R-Class vehicles from the 2006 through 2012 model years

Mercedes EV breaks 1,000-kilometer range barrier to outdo Tesla

The EQXX prototype rode from Sindelfingen near Stuttgart via Switzerland and Italy to the Mediterranean coastal town of Cassis

Mercedes-Benz opens booking for new version of C-Class in India

The booking amount for the new C-Class is Rs 50,000 with bookings to open first for the C200 and C300d variants, followed by the C220d variant, the company said

Mercedes-Benz bets on India's nouveau riche to drive luxury car sales

Global carmakers' biggest growth hurdle, however, is a shortage of semiconductors and logistics woes worsened by Russia's invasion of Ukraine