The Indian unit of the leading luxury car maker Mercedes Benz is all set to mark its debut in the car leasing business in the Indian market. The move has been taken in the view of rising demand for the luxury cars in the leasing market. Mercedes will be the first ever luxury car brand to enter in the car leasing as at present no other car maker offers car on lease in the country.
Initially, the company will be leasing cars to companies only, and as soon as the venture grows to a certain size, the company would consider leasing cars to individuals also. In a recent statement, managing director and chief executive officer of MBI, Peter Honegg, said: “We are in serious discussions to begin leasing vehicles in India by the end of this year. Indians, by nature, prefer owning cars than leasing vehicles and we would consider leasing vehicles to individuals at a later stage.”
Globally, Mercedes Benz is the largest brand in the business of used vehicles. Currently, more than 35,000 Mercedes Benz cars are running on Indian roads. In this leasing business, dealers would be purchasing cars from companies and then lease them to the companies.
