Mercedes-Benz, BMW, Volvo: Luxury brands defy market in H1 2023
Delhi : On the strength of robust demand and an increase in vehicle availability brought on by an improvement in semiconductor supply, luxury automakers including Mercedes-Benz, BMW, and Volvo reported record sales in the first half (H1) of the calendar year (CY) 2023. The leading luxury automaker in the nation, Mercedes-Benz India, reported its best-ever H1 sales at 8,528 units from January to June of CY23, an increase of 12.61% year over year (y-o-y). 7,573 copies were sold at retail during the same time previous year.
In addition, Mercedes-Benz recorded its best-ever Q2 sales in India in the June quarter of CY23, selling 3,831 cars, a 7.88% year-over-year increase over the 3,551 units sold in Q2 CY22. "Mercedes-Benz achieved the best-ever H1 and Q2 sales, demonstrating the market's continued strong demand for the brand. According to Santosh Iyer, Managing Director and CEO of Mercedes-Benz India, "This record sales performance is driven by the high attractiveness of the brand, an attractive portfolio, improved availability of cars, and successful implementation of the 'Retail of the Future' business model.
"Our priority continues to be improving the customer experience while accelerating the growth of premium automobiles compared to other sectors. We have some of the most anticipated luxury automobiles in line for our consumers, beginning with the new-generation GLC, therefore we are excited about the upcoming quarters', he continued.
The GLE was the best-selling SUV, followed by the GLA, while the E-Class was Mercedes-Benz's top-selling model overall in H1. The GLS, S-Class, S-Class Maybach, GLS Maybach, and AMG G 63, in particular, were said to be in "very high demand" according to the business. In Q3, among other things, the new-generation GLC will be unveiled. For all three brands—BMW, Mini, and BMW Motorrad—BMW Group India recorded its best-ever H1 quarter and June retail sales in CY23.
Retail sales for BMW increased 5.49% year over year to 5,476 units in H1 CY23 from 5,191 units in H1 CY22, while those for Mini increased 3.17% year over year to 391 units from 379 units. From 5,570 units in H1 CY22 to 5,867 units in H1 CY23, overall auto sales climbed by 5.33% year over year. BMW Motorrad's retail sales of two-wheelers increased 49.87% year over year to 4,667 units in H1 CY23 from 3,114 units in H1 CY22.
The focus of all we do continues to be on our customers! With comfort, performance, and aesthetics that set the bar for their class, BMW Group India is redefining luxury. The milestone of recording the highest-ever quarter, half-year, and June revenues represents the culmination of the company's strategic initiatives. Every vehicle introduced this year is incredibly desired and in high demand, whether it is for the attraction of pure driving enjoyment or sustainable mobility, according to Vikram Pawah, President, BMW Group India.
Most significantly, our companies' highly emotional digital experiences stand out from the competition. Exclusive offerings like Joytown and The House of Forwardism have improved relationships with current clients and are attracting new ones. We are happy to have reached this milestone and will continuing laying the groundwork for success moving forward, he added.
The new X1 accounted for almost 20% of sales and was BMW's best-selling model in H1. The most popular sedan was the 3 Series Gran Limousine. The business asserted that the iX is the best-selling battery electric vehicle in the Indian luxury automobile sector, while there is now a four-month waiting time for the 7 Series, i7, and X7. The best-selling model for Mini was the Countryman.
Made-in-India models like the G 310 R, G 310 RR, and G 310 GS, which had a combined market share of about 90%, were the main drivers of BMW Motorrad's sales. The S 1000 RR, R 1250 GS/GSA, and C 400 GT scooters were further well-liked models.
Sales of Volvo Car India increased 33.13% year over year to 1,089 units in H1 CY23 from 818 units in the corresponding period of 2012. With 376 sales from January to June, the XC60 SUV was the company's best-selling vehicle, but the locally made, all-electric XC40 Recharge SUV also made a contribution with 289 sales. The XC40 Recharge accounted for 27% of sales volume in the first half, which was quite successful. According to Jyoti Malhotra, Managing Director of Volvo Car India, the astounding 33% rise "reaffirms the positive feedback from customers regarding our opulent mobility options and their strong trust in the Volvo brand."
"The first-half performance serves as a positive sign, giving hope that the future months would bring forth even greater results. We intend to top our best-ever year with the August debut of our C40 Recharge born-electric car," he continued. After the XC40 Recharge, the C40 Recharge will be Volvo's second electric vehicle in India. Additionally, it will be locally put together at the automaker's plant in Hoskote (next to Bengaluru). The C40 Recharge will begin accepting reservations in August, but deliveries won't start until September.
