TL;DR
Mercedes-Benz India executive Santosh Iyer states the Indian EV market has matured, with the company focusing on electrification and outperforming in the luxury segment.
According to Santosh Iyer, a Mercedes-Benz India executive, the Indian electric vehicle (EV) market has progressed beyond its experimental phase, with consumers now more receptive to purchasing the right EV products at opportune times. Mercedes-Benz is intensifying its electrification strategy, particularly with the new Mercedes-Benz CLA, which is positioned as its first software-defined car, reflecting a commitment to advanced automotive technology.
Iyer highlighted that EV penetration within Mercedes-Benz's top-end portfolio stands at 20 percent. The luxury automaker continues to demonstrate strong performance in a luxury market that is otherwise experiencing a slowdown, holding a significant 60-70 percent share in the top-end luxury segment.
Furthermore, Iyer noted an emerging consensus on the Federation of Automobile Dealers Associations (SIAM)'s unified stance regarding CAFE 3 norms, while acknowledging the ongoing challenges of supply delays and increasing cost pressures within the industry.
