Noting that customers here are now "increasingly" demanding quality products in pre-owned car segment, the luxury car maker says it sees "phenomenal" growth in country's pre-owned car segment, describing it as "next growth story" in luxury car business.
"...the growth rate in pre-owned car (in India) is phenomenal. We (Mercedes-Benz) have seen 45 per cent growth in pre-owned car business this year," Mercedes-Benz India, MD & CEO Eberhard Kern said here today. Stating that pre-owned car segment was getting organised in India, he said the company would announce launch of pre-owned car brand in two weeks time.
"10-20 percent of trading ratio in India is a low figure if you compare globally. For example in Europe, it is one to one," he said adding that now it was "growing very fast" in India. "It (Pre-owned car segment) is the next growth story in India's luxury car segment," he observed adding, "Customers here are now demanding quality products in pre-owned (segment)."
The luxury car maker said the company would be looking at both metro and non-metro cities for the sale of premium segment cars with a focus on increasing product portfolios and bringing latest technology to India. "Besides metros, our focus will also be on tier II and tier-III cities as these are also getting more important," he said.
Stating that the company "believes in future of Indian market", he said the company would clock more than 10,000 units this year, which will be the first time ever. During first nine months, Mercedes-Benz sold 7,529 units, 16 per cent up from sale of corresponding period while in Punjab it registered 23 per cent growth in volume.
E-Class is the best selling model for Mercedes Benz in India, said Kern adding that M-class (SUV) has also posted 100 per cent growth. Talking about new trends in luxury car segment, he said "connected" cars and "autonomous driving" would be one of the biggest trends. Mercedes-Benz has 68 dealerships in 37 cities at present. "This year we have opened 13 outlets and 14th one will be opened in Madurai soon," he said.