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Investing.com -- Mercedes-Benz (OTC:MBGAF) reported record first-quarter sales in India, with deliveries rising 10% to 4,238 units driven by strong demand for luxury models and electric vehicles.
The German luxury automaker saw particularly strong performance in its high-end segment, with sales of top-end models like the S-Class and Mercedes-Maybach portfolio increasing 20% between April and June.
Electric vehicle sales more than doubled during the quarter, now representing 8% of Mercedes-Benz’s overall sales in India.
The company’s core segment, which includes C- and E-Class sedans along with GLC and GLE sports utility vehicles, grew 10% and accounts for 60% of Mercedes-Benz’s total sales in the country.
"Our sharp focus on bolstering the top-end luxury (segment) has been highly successful in influencing customer preferences," said Santosh Iyer, CEO of Mercedes-Benz India.
India, the world’s third-largest car market with annual sales of about 4 million vehicles, has seen steady growth in luxury car demand in recent years. This trend is attributed to rapid economic growth changing attitudes toward luxury purchases among younger consumers.
Despite the growth, luxury vehicles still represent just over 1% of India’s total car market.
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