The Registrations of Mercedes Benz vehicles in India attained a value of 7,893 Units in 2020
The indicator recorded a historical decline (CAGR) of 20% between 2017 to 2020, and is expected to grow by...
GlobalData projects the indicator to decline at a CAGR of...
Vehicle industry in India post pandemic
The Indian car manufacturing industry has fluctuated between growth and decline in value and volume terms in recent years. The industry suffered a particularly steep decline in 2020 amid the COVID-19 pandemic. The industry looks set to recover in the forecast period. A key feature of the Indian industry during the historic period was the Indian government’s sudden decision to announce demonetization. The economic alarm that was ignited as a consequence of the government’s actions ultimately struck the country’s car manufacturing industry, as the sale of cars hit a 16-year low in December 2016. Though sales have recovered, it was on the back of heavy discounts in order to boost demand. As such, even though volume consumption levels recovered in the aftermath of the demonetization, the value of the market was not able to grow at the same pace.
Mercedes-Benz Group AG, formerly Daimler AG (Mercedes-Benz), is an automobile company. It develops, produces, and distributes automobiles, trucks, vans and buses. The company also provides financing, leasing, fleet management, insurance, and mobility services. Daimler markets its offerings under various brands including Mercedes-Benz, smart, Freightliner, Western Star, FUSO, BharatBenz, Thomas Built Buses and Setra among others. It has operations across Europe, NAFTA, Asia and other markets. Mercedes-Benz has production, distribution, sales and other facilities in North America, South America, Europe, Asia, Australia and Pacific and Africa. The company has partnership with Beiqi Foton Motor Co Ltd to produce trucks under the Auman brand in China. Mercedes-Benz is headquartered in Stuttgart, Baden-Wurttemberg, Germany.
Products & Services
Its products and services widely range into Passenger Cars, Two-Seater Cars, Trucks, Vans, Buses, Diesel Engines, Accessories, Financing Dealers for Property, Financing Plant and Equipment Purchases, Vehicle Inventory Finance, Insurance Brokerage Services, Refinance, Fleet management, Banking services, Car rental services and Mobility Services.
Its major brand is constituted by Maybach, Mercedes-Benz, Fuso, Freightliner, Western Star, BharatBenz, Thomas Built Buses, Setra, EQ, Athlon and Auman.
Post pandemic situation
The development of automotive markets also had an impact on the business of Daimler Mobility AG. Contract volume decreased, but we continue to finance or lease half of the vehicles we sell.
Across all our divisions, the company made significant progress with efficiency in 2020. The pandemic has once again made it clear that efficiency is a prerequisite for the ability to act effectively.
Looking ahead, the companypursuing two main strategic priorities: digitization and electrification. We are cooperating with strong partners in both fields. In this way, they are not only accelerating technological developments, but we are also sharing the costs.
Corporate Strategy
Mercedes-Benz strives to become one of the leading providers of mobility services. The company focuses on developing products and services in the vehicle connectivity, autonomous driving, digital mobility and transport services and electric mobility areas.
The company intends to reinforce its global core business of vehicle manufacturing, secure a leading position in new fields, adopt corporate culture, and strengthen its divisional structure in line with the transformation of the auto industry.
Vehicle registration scenario
Mercedes Benz has remained consistent in thirteenth and fourteenth position in total vehicle registrations in India from 2015 to 2020. GlobalData predicts its ranking to remain consistent at fourteenth throughout the forecasted period.
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