Luxury car maker Mercedes-Benz India said its electric vehicles (EV) portfolio in January-March quarter grew 130% y-o-y and EV penetration rose more than 6% in Q4 FY24.
Mercedes said it would double its EV portfolio by introducing three variants in remaining quarters of CY24 taking the total to 6 EVs. The company will debut a combination of luxury and performance with its AMG S63 e-Performance vehicle in Q1 FY2025.
“Due to the continued trust of customers in our products, we achieved the highest-ever quarter and best-ever fiscal in India,” said CEO Santosh Iyer.
Mercedes sold 5412 units in the January-March 2024 quarter, up 15% from 4697 units sold in the year ago period.
The company said it witnessed strong demand for SUV portfolio driving 60% of total sales volume in the last quarter. In FY24 the company sold 18,123 units, 10% more than 16,497 units sold in FY23.
Mr. Iyer said demand is so high that the wait period now ranges from two months to more than a year.
As part of its plans to expand its retail network in key metropolis, the company will have 25 MAR 20X facilities by year-end.
Mercedes also announced it would set up 10 new workshops in emerging cities namely Jammu, Kannur, Kottayam, Udaipur, Amritsar, Agra, Valsad, and Patna by end of 2024.
