Number of cars sold by Mercedes-Benz India 2010-2023
Mercedes-Benz India was established when Daimler entered the Indian market in 1994. It is a subsidiary of Daimler AG, and the headquarters of the company is located in Pune, Maharashtra. Mercedes-Benz India started assembly and manufacturing locally the year it was established. Initially, the production site was located on the Tata Motors premises. In 2009, a new plant was established in Chakan, Pune for manufacturing luxury cars, including the sedans and coupes as well as Maybach S-Class and the SUVs.
Luxury car market in India
The passenger vehicles market of India reached around 3.6 million units in financial year 2023. It makes India one of the biggest markets for passenger cars. However, India’s luxury car market remains relatively small, with only 43 thousand sold in 2023. This was partially due to the impact of the coronavirus pandemic. With a compound annual growth rate of approximately 15 to 20 percent in the next five years from the end of financial year 2022, luxury car manufacturers may see an economic rebound after the pandemic.
Passenger vehicle market in India
As the public transportation sector hasn’t been able to keep up with the exponential growth of Indian cities, personal vehicles have become more popular as disposable income has increased for the general population. The most popular type of passenger vehicle in the market were hatchbacks. Thanks to their small size, cars of this category can easily navigate through the narrow streets of Indian cities. Maruti Suzuki was the leading manufacturer in financial year 2024 and has been dominating the market for many years. The best-selling model of the same year was the Brezza, a small hatchback from the leading company.
