Fast paced growth of top end models jack up Mercedes’ average selling price in 2024
average selling price of Mercedes Benz India models in 2024 rose 6% to Rs 95 lakh over Rs 89 lakh in 2023 as buyers lapped up its top end models—those priced at Rs 1.5 crore and above, at a faster pace compared to the year before. Sales of such models that include the Maybach S Class, AMG, GLE to name a few, advanced 30% year-on-year.
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One in every four cars sold by the local arm of the German luxury carmaker during the year was a top-end one, said a top executive at the luxury car market leader. The weighted average price of Mercedes models was higher than the industry average—it was Rs 95,44,690 for Mercedes against Rs 90,60,996 for the industry, according to JATO Dynamics.
“Our average selling prices have gone up significantly. It clearly shows that we are not selling on discount,” Santosh Iyer, MD & CEO, Mercedes Benz India told ET. The German luxury carmaker ended 2024 with a record sales of 19,565 units in 2024 against 17408 units last year, up 12.4% over 2023, outpacing the overall luxury car market in India. The segment grew 6% over the last year to 51,200 units. This is the slowest pace of growth seen in the last three years. “We have been driving the growth in luxury significantly, thanks to the new products, the new E Class, the new EVs that we launched,” said Iyer.
On Thursday, Mercedes-Benz India introduced two
