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Mercedes & Audi Anticipates Sales Growth this Festive Season
Mercedes Benz India and Audi India are looking forward for a sales hike in the upcoming festive season as a gradual improve is expected in the overall business environment in the next few months. Thus, the German automakers are expecting new digital initiatives and financial tools as well as low EMI solution to attract more customers.
Martin Schwenk,Managing Director & CEO,Mercedes-Benz India states, "We are confident of customer demand gradually coming back by the festive season as this is the time customers want to celebrate and that in-turn drives sentiment.Our month-on-month sales trend signals towards that revival of sentiments." He adds, "The company has taken a host of initiatives to boost customer sentiment and to bring back the confidence required".
Likewise, Audi India is also awaiting to cash on the festive season as it considered as strong sales period for the auto industry. Therefore, the company has recently launched products namely A6, A8 L, Q8 and RS 7 Sportback and expecting that these new launches would bring in new buyers. Amongst these new products Audi would also include Audi RS Q8.
Commenting on sales in small town, Audi India Head Balbir Singh Dhillon states, "Our sales in tier-II and III cities are growing gradually and we expect it to pick up further during the festive season and through 2021. The company continues to expand its footprint in tier-II and tier-III cities as these regions exhibit rising aspirations to own luxury cars.
Furthermore, the company is also awaiting its pre-owned car business to pick up steam in this festive season as its business has witnessed growth in 2019 the company is also expecting the higher demand to continue in 2020 as well.
Commenting on the overall dynamics of the segment, Deloitte India, Partner & Leader Automotive, Rajeev Singh says, "The luxury car market in India has so far seen a very slow start given the transition from BS-IV (Bharat Stage-IV) to BS-VI emission standards, followed by the pandemic and lockdown across major cities. However, we expect a pent-up demand around the festive season carried over till the new year".
He continues, "While the overall luxury car market is likely to be flat to minus five per cent in FY20-21, it's better than the outlook for the overall passenger vehicle (PV) industry, which is likely to see a de-growth of 15 to 20 percent".
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