Two of every three Mercedes-Benz cars are sold on either finance or lease

Saturday 06 July 2013, 11:38 AM by

Mercedes-Benz India, the German premium car maker, has declared that every two of three cars sold by it in the country are either financed or leased. At the launch of new E-class in Chandigarh, the Managing Director and Chief Operating Officer of Mercedes-Benz, Eberhard H Kern said that the trend of buying a car on lease is gaining momentum in the Indian auto market, instead of people purchasing the car on their own name.

Two of every three Mercedes-Benz cars are sold on either finance or lease | CarTrade.com
Two of every three Mercedes-Benz cars are sold on either finance or lease

He further said, “The business of getting Mercedes Benz on lease is fast catching up in India.” Buoyed with a decent demand from the country, the auto maker is planning to invest Rs. 250 crore in its production units in India, which will substantially two-fold the current level of output. Also, the German company is prepared to introduce new models in 2014, in order to lure the premium section buyers.

Commenting on its dealership network, the auto maker said that there are 57 showrooms of Mercedes-Benz in across 32 cities of the country. It must be noted that fiscal 2014 is an offensive year for the car maker as it is looking ahead to introduce new models and expand its footprints. Interestingly, E-Class happens to be the fourth launch of Mercedes-Benz in the Indian auto market, which now accounts for almost 40 per cent business of the company in India.

Speaking on the sales of luxury models, the company official said that the demand stood at 45 per cent in Delhi, whereas Mumbai accounted for the rest 55 per cent. “The company may introduce its products in small segments of SUV as well,” he added later. Reportedly, a number of Mercedes-Benz models are assembled in the country and around 10 per cent buyers demand certain features in imported cars, which are often termed as 'dream cars'.

According to Kern, the company is foreseeing growth in almost all segments, namely sedan, Sports Utility Vehicle (SUV) and luxury hatchback, which has motivated the company towards introducing new models in India. He said, “We have plans to assemble GL-Class, a SUV considering the response from the customers. Currently, we assemble the C-Class, E-Class, M-Class and the S-Class in India at our facility.”

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