Despite the collision of duty in the budget, Mercedes-Benz, the largest luxury car maker operating in the Indian market, hopes that it will also be able to maintain double-digit growth in 2018. The company said that if there is no major change in the policy for the auto sector in the current year, then it will be able to maintain growth momentum. The company’s plan is to launch 10 new cars in the current year, which will give it the benefit of increasing its presence in the sector.
Roland Folger, managing director of Mercedes-Benz India, said, “We have made our plans for the current year. If there is no major change in the policy during this time for the sector, then we hope that we will be able to maintain the performance of our previous year in this year and will maintain our number one position in the market.”
Mercedes-Benz India registered a growth of 16% in 2017 with 15,330 units. During this time, the Overall luxury car market reached new height with the sale of 40,000 units. After the fall in 2016, double-digit growth was registered in the luxury car market in 2017.
Folger says that even though the 2017 luxury car market took a good year, but it was due to low growth in 2016, which was one of the worst years for the luxury car market. He said that in 2017 there was a hope of recovery earlier, due to which demand was on the rise. Folger said, “But saying that we did a great job in 2017, it would not be right.”
He said that the company is now making a monthly strategy. Earlier, the company was working on quarterly, half early, and anonymous strategy. The Indian luxury car market has been affected due to the increase in diesel bans, demonetization, GST rates and recent CKD duties.