Latest news with #MercedesBenzIndia
Entrepreneur
5 days ago
- Automotive
- Entrepreneur
The Luxury EV Innovator
We continue to redefine the top-end luxury BEV segment with an unparalleled blend of technology and luxury appointments, says Santosh Iyer, Md & CEO, Mercedes-Benz India You're reading Entrepreneur India, an international franchise of Entrepreneur Media. With strong local manufactur ing, a growing charging infra structure, and an unrelenting focus on premium experi ence, Mercedes-Benz India under Santosh Iyer is not just keeping pace with global EV trends — it's setting the benchmark for luxury electrification in one of the world's most dynamic markets. According to Iyer, the company's early and consistent focus on top-end luxury battery electric vehicles (BEVs) has helped accelerate segment adop tion. "We continue to redefine the top-end luxury BEV segment with an unparalleled blend of technology and luxury appointments," he explains. The result? A 73% year-to-date growth in BEV sales as of May 2025 — significantly outpacing the 66% growth in the overall luxury BEV segment. The demand is being fueled by vehicles like the EQS range, the EQS Maybach SUV, and the G580 with EQ Technology — all of which exemplify opulence, performance, and electric engineering. "EV adoption is a long journey," says Iyer. "We must take our customers and partners along in this transition." From home to dealership to road trips, the company ensures 24x7 charging support across more than 50 DC fast chargers (60–180 kW) installed countrywide. Interestingly, the Indian luxury EV landscape is evolving in a distinct way. "In India, BEV adoption is largely driven by strong demand for top-end BEVs, which is unique and underlines our custom ers' preferences," notes Iyer. This aligns seamlessly with the brand's global 'Ambition 2039' mission — aiming for a carbon-neutral and digitally connected future. Moreover, Mercedes-Benz is the only luxury car maker currently producing two world-class BEVs in India — the EQS 580 4MATIC sedan and the EQS 450 SUV, reinforcing its local commitment without compromising on product substance or quality. Meeting the expectations of Indian luxury consumers means prioritizing range, performance, and charging convenience. Iyer proudly recalls the Made-in-India EQS 580 that set a Guinness World Record in 2024, traveling 949 km from Bengaluru to Mumbai on a single charge — a tangible testa ment to its engineering prowess. "Using a luxury BEV is embracing future tech nology," he reflects. "The learning curve is steep, but rewarding." Despite its remarkable progress, Iyer acknowl edges the barriers to rapid EV adoption: high up front costs, inconsistent state policies on road tax, patchy fast-charging networks, and lack of a unified digital payment interface. "These factors continue to deter luxury BEV customers from switching faster," he notes. Yet, each year sees measurable improvements. The fact that BEVs already account for 8% of Mercedes-Benz India's overall sales, with rising momentum in 2025, signals a tipping point ahead. EVs aren't just about batteries — they're about brains. Iyer emphasizes the cultural transfor mation needed to steer a traditional auto OEM into a future-ready tech-driven entity. "Agility, flatter hierarchies, and faster market adaptability are essential," he asserts. "With shorter product cycles and rapidly evolving technology, in novation and software integration will become key differentiators." Looking ahead, Iyer is pragmatic but optimistic. While market transformation will dictate the pace, the Mercedes-Benz BEV portfolio is expected to grow steadily in volume and desirability.
Time of India
17-06-2025
- Automotive
- Time of India
India's luxury car market gets an EV charge
India's luxury vehicle market is giving itself an EV charge. According to the latest data from Vahan dashboard, the penetration of EVs in the luxury car market increased from 7per cent in January-May 2024 to 11% in the same period this year. Luxe e-vehicle sales went from 1,223 units in Jan-May 24 to 2,027 units in the same period this year, shows the Vahan data. For calendar 2024, e-luxe vehicle sales were around 51,000 units up from just over 48,000 units in 2023 (some OEMs did not share retail data). This is the first time that EV penetration in the luxe car and SUV market has entered double digit territory. Santosh Iyer, MD & CEO, Mercedes Benz India said, 'More luxury customers are lapping up electric vehicles. In the calendar year 2025 YTD, the total luxury vehicle market grew 5per cent but the electric luxury market was up 66per cent and Mercedes Benz India saw 73% growth.' The company which launched the EQS580 sedan celebration edition in Chennai on Monday, is focusing on the higher end of its luxury lineup. 'We are growing in the top end of the EV space with the EQS sedan, EQS SUV and Maybach EQS 680 SUV leading the growth,' he added. With more than 3,000 EVs sold till date arch-rival BMW Group India is serious about its electric presence. Vikram Pawah, president and CEO, BMW Group India said, 'BMW is the leader in electric luxury mobility since the last 3 years. At present, we command 58per cent of luxury EV market share.' The company sold 1,020 units of its BMW and Mini EVs in January to May 2025, up 110per cent over the same period last year. The company is also focusing on 'enabling a strong EV ecosystem for our consumers,' by understanding usage patterns, offering a strong charging network and a host of charging initiatives. As for Audi India, it is offering customers access to 6,500 plus charge points through a charging app for convenience. Priced anywhere between ₹ 1 crore to ₹3 crore, the e-luxe cars and SUVs are not cheap. But luxury car makers are looking at this segment as a growth opportunity even if EVs currently comprise less than 10per cent of their sales. For Audi India, for instance, EVs constitute 2per cent of its total sales volumes while for Mercedes Benz India electric comprised 7per cent of its 19,565 units overall sales in 2024.
Time of India
12-06-2025
- Automotive
- Time of India
Luxury EV sales zoom 66% in India; 2,027 units sold in just 5 months
Sales of electric vehicles in the luxury segment grew by 66% to 2,027 units in the first five months of the ongoing calendar year driven by healthy customer adoption at the upper end of the local market. As many as 1,223 luxury EVs were sold in the same period last year, shows vehicle registration data from VAHAN portal of the Ministry of Road Transport & Highways (MoRTH). Santosh Iyer, Managing Director at Mercedes Benz India , told ET, 'We are clearly seeing a strong traction for electric vehicles in the luxury segment, much more than that being seen in the mass market. For our own portfolio sales growth have been higher at 73% between Jan-May 2025, driven by demand for our top-end-vehicles.' For Mercedes-Benz India's while electric car sales came mostly from customers in metro markets of Delhi NCR, Mumbai, Hyderabad, and Bengaluru, Iyer pointed out 'penetration of electric vehicles in some emerging markets like Kerala, Gujarat is encouraging'. 'In the industry too, penetration of electric in luxury vehicle sales is on a rise and stood at 11% in the first five months of the year, compared to 7% in the same period last year', Iyer informed. Live Events Compatriot BMW - which has half a dozen electric vehicles for offer in the Indian market - too is seeing strong demand, and even from Tier-II cities like Jaipur. Vikram Pawah, President, BMW Group India, said in a recent interaction, 'We had targeted about 15% of our sales to come in from EVs by 2025. We are already at about 17%. We expect penetration to only go up from here, with 30% of our sales coming in from electrics by 2030.' Overall, sales of luxury vehicles is expected to grow in high-single digits this year. Iyer said, 'The industry has grown by 7-8% in the first five months of the year. While uncertainty continues due to a super-charged geo-political environment, the recent rate cuts by the RBI should help foster demand. We are expecting good sales in the festive season. The growth this year should be in line with expectations.' Luxury car sales grew by about 8% to 54,000 units in CY2024. Luxury cars currently have a little over 1% market share in India—the lowest among major economies. The country however offers ample growth potential given it is home to one of the highest number of billionaires worldwide, industry experts said. Between 2023 and 2028, India will witness the highest increase for any country in the number of ultra-high-net-worth individuals (UHNWIs), with a net worth of $30 million or more, as per Knight Frank's flagship study, 'The Wealth Report 2024'. The number of ultra-rich Indians is expected to surge by 50% to 19,908 in 2028 from 13,263 in 2023. India will be followed by China (47%), Türkiye (42.9%), and Malaysia (35%), according to the report. Economic Times WhatsApp channel )
&w=3840&q=100)
Business Standard
09-05-2025
- Automotive
- Business Standard
Mercedes-Benz India focuses on deep localisation as forex hit push costs up
Luxury carmaker to raise prices in two phases in 2025 due to forex pressures while expanding localisation to protect margins and banking on India's economic resilience Sohini Das Mumbai Listen to This Article Amid geopolitical tensions and escalations between India and Pakistan, Mercedes Benz India sees 2025 to be a relatively 'tough year' but bets on the resilience of the Indian economy to drive demand for luxury cars. The German luxury carmaker, which leads India's 50,000-odd units annual luxury car market, announced a price increase in the range of ₹90,000 (for a C-Class) to ₹12.2 lakh (for the Mercedes-Maybach S 680) in two stages (June and September) as forex rates increased. According to data from Bloomberg, the rupee has depreciated by 7.19 per cent year-to-date (YTD) vis-a-vis the Euro. Speaking to Business Standard, Mercedes
