30 Years of Mercedes-Benz In India, Nearly 2 Lakh Cars Sold: Santosh Iyer At GBS 2025
At ET Now Global Business Summit 2025, Santosh Iyer, MD & CEO of Mercedes-Benz India, shared key sales figures, highlighting 2 lakh cars sold over 30 years, with 1.5 lakh in the last decade.
30 Years of Mercedes-Benz In India, Nearly 2 Lakh Cars Sold: Santosh Iyer At ETNOWGBS2025
Speaking at the ET Now Global Business Summit 2025, Santosh Iyer, MD & CEO of Mercedes-Benz India, shared key figures on the German marque’s sales and growth since entering the Indian market.
He said, "We have been in India for the last 30 years, during which we have sold around 2 lakh cars to date. Out of this, we have sold approximately 1.50 lakh cars in the last decade alone. If we break it down further, we have sold the last one lakh cars in the past 5–6 years."
During his address, he also shared data on sales distribution across price segments. "25% of sales come from cars priced above ₹1.5 crore, 60% of sales come from cars priced between Rs 70 lakh and Rs 1 crore, and the average selling price has increased from Rs 50–60 lakh to Rs 95 lakh," he said.
He also quoted Coco Chanel, saying, "Luxury starts where necessity ends," a statement he reiterated at the 10th edition of the Times Network India Economic Conclave.
In an earlier address at the IEC 2024, he shared data on luxury car penetration across regions: Tier-1 cities: 1.5%, Tier-2 cities: 1–1.2%, Tier-3 cities: 0.4%. However, in South Mumbai, penetration is at 6.5%, which is on par with international markets.
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