India to be 3rd-largest global market for Mercedes-Benz by 2027

India is currently the fifth-largest overseas market for the brand, after Japan, South Korea, Australia and Turkey (excluding North America, Europe and China).

Mercedes-Benz expects India to be its third-largest market in the world by 2027. 

India is currently the fifth-largest overseas market for the brand, after Japan, South Korea, Australia and Turkey. The list does not include markets like North America, Europe and China. Mercedes expects India to overtake Turkey as the fourth-largest market in the coming months. 

Sagree Sardien, Head of Region Overseas, Mercedes-Benz AG, said, “Our Region Overseas markets which encompass 118 markets across the world and India happens to be market number five for us. So you can imagine the relevance and importance it serves not only today, but also for the future of the Mercedes-Benz brand.”

Mercedes-Benz registered its highest-ever sales of 17,408 units in 2023. The carmaker hopes to continue the momentum and has lined up 12 new models, including EVs, this year.

Mercedes-Benz currently leads the luxury EV market in India, with EVs accounting for 4% of its total sales. Sardien believes that the carmaker will register double-digit growth in the EV segment in the near future.

Currently, the luxury car market in India is around 47,000 units per annum. However, it is estimated to reach the 1 lakh unit annual mark by the end of this decade.

Source: HT Auto