Substantial growth expected: Merc CEO
German luxury carmaker Mercedes-Benz expects ‘’substantial’’ growth in India this year driven by a line-up of 15 products and sustained demand recovery being witnessed from the fourth quarter of last year, according to a top company official.
migrator
New Delhi
The company, however, sees reaching its peak level of 2018 in India, only in 2022, due to supply-chain constraints especially in Europe.
“Overall, I think we can really assume that the momentum which we have seen in the fourth quarter is continuing... With the reduction of COVID cases a lot of normalcy has happened. We have seen very strong demand in all our range.
“I would think the festive season plus new products have triggered that, and would continue in 2021,” Mercedes- Benz India Managing Director and CEO Martin Schwenk said.
He was responding to a query on the company’s outlook for the ongoing calendar year. Schwenk further said, “We have 15 products in our pipeline. With (the ongoing) demand we should have a good chance for recovery and substantial growth in 2021.”
In 2020, it had reported 43 pc decline in sales at 7,893 units in India, as compared to 13,786 units sold in 2019. He said, “We have seen in the Q4 of 2020, a 40 per cent increase compared to the third quarter.” In the Q1 of 2020, it had sold 2,386 units and then just 563 units in Q2 due to the lockdown.
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