Mercedes-Benz India Achieves Record-Breaking Q3 and YTD Sales in 2024

Mercedes-Benz India has recorded its best-ever Q3 sales performance in the third quarter of 2024, marking a significant milestone in the company’s history. With 5,117 units sold in Q3 alone, representing a 21 per cent year-on-year (YoY) growth, and a total of 14,379 units delivered from January to September 2024 (a 13 per cent YoY increase), the German luxury carmaker continues to dominate the Indian luxury car market.

Not only has Mercedes-Benz outpaced its competitors, but the brand has also capitalised on the growing demand for electric vehicles (EVs), posting an 84 per cent increase in battery electric vehicle (BEV) sales during the same period. In fact, BEVs accounted for 6 per cent of the company's total sales in this period, selling over 800 luxury EVs in the country. 

Also Read: Auto Sales September 2024: BMW India Records It's Highest-Ever Q3 Sales

The company’s top-end vehicles, including the S-Class and Mercedes-Maybach models, grew by 18 per cent, accounting for one out of every four Mercedes-Benz cars sold in India. The Mercedes-Maybach S 580 and other Maybach models saw a particularly sharp rise, with a remarkable 125 per cent YoY growth. Mercedes-Benz’s SUV portfolio—comprising the GLA, GLC, GLE, and GLS—played a pivotal role in driving YTD growth. 

While Mercedes-Benz is celebrating its record-breaking performance, its closest rival, BMW India, also saw significant growth but trailed in absolute numbers. BMW India delivered 10,556 units from January to September 2024, achieving a 10 per cent YoY growth, compared to Mercedes-Benz’s 13 per cent growth in the same period. BMW's sales were led by key models like the 7 Series Long Wheelbase, 3 Series Long Wheelbase, and the newly launched 5 Series, which has already seen sales of over 300 units and holds an order backlog of 600 units.

Notably, BMW's overall growth, though strong, remains slightly behind Mercedes-Benz in terms of both percentage and total volume. BMW’s YTD sales of 10,056 units (excluding MINI sales) put it 4,323 units behind Mercedes-Benz’s 14,379 units in the same period. However, BMW’s 10 per cent YoY growth reflects a strong recovery in the luxury market, and the company’s expanding lineup, particularly in the EV and luxury sedan segments, suggests it is still very much in the race.