Mercedes-Benz India has achieved a significant milestone by recording its best-ever fiscal year sales in FY24-25, with 18,928 units retailed, marking a 4.44% year-on-year growth over FY23-24’s 18,123 units. This success comes even as the company faced a challenging start to 2025, with Q1 2025 sales at 4,775 units, a decline of 11.77% compared to 5,412 units sold in Q1 2024.
FY24-25 Highlights: Top-End Luxury and BEVs Drive Growth
– Overall fiscal growth was driven by a 34% increase in Top-End Luxury sales and a 51% surge in Battery Electric Vehicle (BEV) sales.
– More than one out of every four cars sold by Mercedes-Benz India in FY24-25 belonged to the Top-End Luxury segment, including iconic models like the S-Class, Mercedes-Maybach, and AMG G 63.
– BEVs contributed 7% of the overall sales for the fiscal year, led by strong demand for models like the EQS SUV.
Q1 2025: Entry Luxury Weakens Overall Numbers
While FY24-25 was a record-breaking year, Q1 2025 saw sales decline by 637 units compared to Q1 2024. This 11.77% YoY dip was largely attributed to a 28% decline in the Entry Luxury segment, which faces intense competition at lower price points.
However, the Top-End Luxury segment continued to grow, registering a 6% rise in Q1 2025, underlining a clear customer shift towards ultra-premium vehicles. The company highlighted that the E-Class LWB remains India’s highest-selling luxury car, with particularly strong demand for the new E 450 variant.
BEVs See Rising Acceptance
Mercedes-Benz’s Battery Electric Vehicles gained impressive traction:
– BEV sales grew by 51% during FY24-25, contributing to 7% of total sales.
– In Q1 2025 alone, BEV penetration climbed to 8%.
– The EQS SUV, especially the locally manufactured EQS 580 and EQS 450, emerged as the best-selling BEV models.
– Waiting periods for the EQS Maybach Night Series and the new G 580 SUV with EQ Technology have stretched up to 12 months, highlighting robust demand.
Luxury Car Sales Q1 2025
India’s luxury car market posted a healthy performance in Q1 2025 with overall retail sales reaching 11,555 units, a growth of 6.78% over Q1 2024. Mercedes-Benz maintained its leadership position with 4,775 units sold, despite a 11.77% decline year-on-year. It commanded a 41.32% market share. BMW secured the second spot, registering 3,764 units and achieving a 7.24% growth, contributing 32.57% to the market.
Jaguar Land Rover (JLR) emerged as the fastest-growing luxury brand, with sales more than doubling — up 110.2% to 1,793 units, boosting its share to 15.52%. Audi also posted a strong quarter, selling 1,223 units, a growth of 16.92% year-on-year, and holding a 10.58% share. Together, these four brands accounted for the entire luxury car market in India during the first quarter of 2025.
