Santosh Iyer, Managing Director of Market Leader Mercedes Benz India, told ET, while due to geographical uncertainty, the demand for local markets was reduced during the year, while the company is expecting faster than the beginning of the festival season.
“In our department, the purchase is carried out in a spirit of procurement. While eating geographical-political challenges, the RBI has cut the repo rate this year in 5 base points. We are at the beginning of the festive season. We expect to improve the speed,” he said. Industry observers are expected to sell about 10,000-12,000 luxury vehicles during the festival season this year.
Iyer said the company itself has 1,500 pending orders. At the high-end of the market, especially the company, is seeing good traction. He informed, “Our top-end vehicles are growing 4-20-5%. The core section is doing well. It is only on entry-level, where we have a limited presence that we are looking at some effects on the volumes.”
Mercedes Benz India had reported a 10% increase in selling 4,238 units in the last quarter.
Audi India chief Balbir Singh Dhillon agreed as an industry, we are facing headwinds for low demand – due to weak exchange rates and uncertainty of the market, geographical political stress has increased – on the whole, we are for the entire 4 50 years. In 224, the-Luxury vehicle manufacturers are expected to increase sales in 224.
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