The German luxury car maker Mercedes-Benz suffered a 25 percent decline in sales last month. The company sales across the world including its popular models like Maybach, Smart, AMG and Mercedes fell 25.2 percent to 84,500 units from 113,000 units in the same month last year.
In India, Mercedes is still eyeing to capture a larger market share of the emerging market. It intends to launch a vehicle financing arm in India to boost the passenger car sales in the country. The financing division of Mercedes also plans to finance the commercial vehicles from the company to boost sales.
According to the company CEO and MD, Wilfried Aulbur, liquidity had been tight in the market since past two months which has led to the slow down but he perceives it to be a temporary phenomenon.
“The financial crisis is finite and the markets will bounce back. We are committed to our investments in the country because we have gone through a similar period in the past. At this point, we are still evaluating the option of launching our vehicle finance services,” Mr Aulbur said.
Mercedes has already achieved its yearly sales targets for this year due to robust demands in the month of September but did not reveal what the targets were.