Mercedes-Benz India sales up 22.5% in FY18

Source: The Hitavada      Date: 07 Apr 2018 11:03:02


NEW DELHI,

(PTI),

GERMAN luxury car maker Mercedes- Benz on Friday reported 22.5 per cent growth in sales in India at 16,236 units in 2017-18, strengthening its leadership in the segment. The company, which had sold 13,259 units in 2016-17, also said in the January-March period it sold 4,556 units as against 3,650 units in the year-ago period, up 24.8 per cent.

Mercedes-Benz India MD & CEO Roland Folger said: “2018 began on a positive note for the brand, though the spike in Q1 sales can be attributed to” advancing of customer buying due to the impending price correction, triggered primarily by the increase in basic Customs Duty. In the Budget 2018-19, FM Arun Jaitley had increased the Customs Duty on CKD (completely knocked down) imports of motor vehicles, motor cars, motor cycles from 10 per cent to 15 per cent.