Mercedes Benz India expects to witness flat growth rate this year
Receiving tough competition from its arch rivals like Audi and BMW, the Indian unit of the Germany based leading car maker Mercedes Benz is now facing a prospect of flat growth rate in the Indian market in the coming months.
The company, which had registered a sales surge of 35 percent in last year, for the first time is on the verge of registering flat growth rate in the current year, in its operations of more than 16 years. The company is blaming the rising fuel prices and high interest rates on car loan for this slowdown.
According to Mercedes Benz India’s general manager, strategic planning and corporate communication, Mr. Manas Dewan, The sales figures of the current year expected to be different from the figures of last year.
While further elaborating the reasons of the expected flat growth rate, he added, “Overall, slowdown in global economy has impacted sentiments, making buyer cautious resulting in customer deferring his purchase decision.”
Meanwhile, the company is all set to roll-out a range of new cars in the Indian market including A Class and B Class models in the price segment of Rs 20 lakh and 25 lakh, respectively.
- Malayalam Superstar Mammootty shows interest to buy India's first Maruti 800
- Hyundai, Renault to Lure Buyers With AMT Equipped Cars
- Special beach bike launched to stop infiltration from Sri Lanka
- Maruti Suzuki reports impressive Q4 net profits impressively at 60.5% to Rs 1,284 cr
- Hyundai and Renault likely to get AMT technology, Grand i10 to be first to receive it
- Tata's upcoming cars in India - Glade and Boom
- Tata Hexa SUV likely to be launched with an automatic transmission
- Ford Aspire might lead the compact sedan space