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In an exclusive conversation, Lance Bennett, Vice President of sales and marketing at Mercedes-Benz India, delves into the brand’s strategic focus on top-end luxury vehicles, the growing interest in electric mobility, and India’s rising prominence in the global luxury car market. Bennett discusses the strong demand for models like the Maybach EQS SUV, the electric vehicle lineup, and the highly anticipated electric G-Wagen. He also touches upon India’s rapid growth in the luxury segment, the success of the EQA, and the bespoke experiences awaiting Maybach customers in the new Maybach lounge.
As told to Aatish Mishra.
Q: Maybach EQS SUV – another top-end car, clearly the focus is on the top-end. Tell me why.
A: It’s our strategy to continue growing the top-end, and we see many customers in this market interested in unique products. That’s why we bring these cars to market.
Q: Good pricing. Can you explain how you achieved it?
A: We've passed the lower GST for electric vehicles on to the customer.
Q: You mentioned India is now in the top 10 Maybach markets globally. Any numbers you can share?
A: No, we can't share numbers, but we're getting a lot of interest from headquarters regarding our growth, particularly in the Maybach segment.
Q: Why is India growing so fast in the top-end market, and why is there such interest in Maybach?
A: There’s a strong desire for luxury here. As the number of high-net-worth individuals grows, they’re able to purchase these vehicles. I think it’s just a matter of more people in the country seeking luxury goods, including automobiles like Maybachs.
Q: Is the top-end luxury market growing in general?
A: Yes, the top-end luxury market is growing as well. We’ve seen a shift in what we call the ‘diamond,’ which includes entry-luxury, mid-range, and top-end luxury. Currently, 25 per cent of our sales come from the top-end, and to maintain that, we need to keep bringing new products to market.
Q: Can you tell me more about the Maybach lounge? What kind of experience can a customer expect when buying a Maybach?
A: Our dealerships will include a Maybach lounge, featuring bespoke materials. Customers will be able to select the colours, trims, and leather for their vehicles. We also have a new range of Maybach merchandise, including bags, wallets, and clothing, all featuring the Maybach monogram.
Q: How are your EVs performing in India?
A: In the first half of the year, 5 per cent of our sales were electric. We're seeing good momentum since launching the EQA, which has been in the market for two months now. We also refreshed the EQB. We're getting good inquiries and orders and are working to meet that demand.
Q: Is the EQA your best-selling electric vehicle?
A: Yes, at this stage, it is.
Q: We’re seeing a lot of discounting in the lower segments due to excess stock. Is the luxury market experiencing the same?
A: We’re offering incentives like subsidised finance rates and focusing on strong residual value products rather than straight discounts.
Q: Is the luxury market facing the same challenges as the lower-end segments?
A: We are seeing some discounting across the market, but not as much.
Q: When can we expect the new E-Class?
A: Likely in quarter four. November is the planned date, but we're trying to bring it forward if possible.
Q: What can you share about the new E-Class?
A: The E-Class is our best-selling vehicle. It’s been designed as a long-wheelbase car, not just a stretched version. It’s packed with features we know our customers want, like the 4D Burmeister sound system, rear reclining seats, and electric sun blinds. We’re confident it will be a huge success.
Q: You have an electric AMG and an electric Maybach. When will the electric G arrive?
A: The electric G will arrive either towards the end of this year or the beginning of next year. We have 80 orders for the year, so depending on supply, it could arrive sooner.
