‘Luxury car segment has massive headroom for growth in India’
The luxury automobile sector in India has significant growth potential, with only two percent market penetration compared to 10 to 15 percent in developed countries. Mercedes-Benz India is focusing on expanding its retail network and enhancing customer experiences as part of its strategic outlook. The company plans to open over 20 new outlets by 2026 and is also increasing its electric vehicle infrastructure to meet rising demand.
- ▪The luxury car market in India is currently at a mere two percent penetration.
- ▪Mercedes-Benz India is expanding its retail network and focusing on customer experience.
- ▪The company plans to add over 20 new outlets by 2026, particularly in emerging markets.
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The luxury automobile sector in India possesses immense untapped potential, given that its penetration remains at a meager two percent of the overall automotive market compared to 10 percent to 15 percent in developed nations like the US, Germany, and China, said Brendon Sissing, vice president (sales & marketing) at Mercedes-Benz India.He was in the city on Monday to inaugurate the company's luxury showroom partnered with Silver Star here. The company also showcased its new CLA battery electric vehicle to the local customers on the occasion.Speaking to The Hindu on the sidelines on the company’s strategic outlook following the expansion of its retail network, Brendon Sissing, highlighted that deep-diving into diverse domestic market potentials, increasing accessibility, and elevating…
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