Explore Business Standard
Mercedes Benz
German luxury carmaker Mercedes-Benz on Monday said Emrah Ozer has been appointed as its Chief Financial Officer for its Indian operations as part of an organisational change in its finance and controlling function effective since January 1, 2025. Ozer, currently associated as a Member of the Board of Management and Head of Finance & Controlling, Mercedes-Benz Otomotiv Turkey, will be inducted into the Board of Mercedes-Benz India as Executive Director in due course of time. He succeeds Evren Cakabey who has taken over as the Executive Director & CFO, Mercedes-Benz G GmbH, Austria, effective January 1, 2025, Mercedes-Benz India said in a statement. Commenting on Ozer's appointment, Santosh Iyer, Managing Director & CEO, Mercedes-Benz India, said the company will benefit from his rich expertise in managing International Finance, business modelling and investor relations. "We are confident that Emrah, with his diverse international financial experience and proven track ...
German luxury carmaker Mercedes-Benz on Thursday sounded confident of posting a double-digit growth this calendar year and said it is expecting the demand to remain good in the coming festive season on the lines of last year. Speaking with PTI at the launch of two new top-end car models, Mercedes-Benz India Managing Director and CEO Santosh Iyer said that the company is seeing growth in its electric vehicle portfolio also and it will come out with the electric version of Maybach in September this year. With the unveiling of the Mercedes-AMG GLC 43 4MATIC Coup and CLE 300 Cabriolet AMG Line, priced at Rs 1.105 crore and Rs 1.10 crore, respectively, the company has strengthened its top-end product range further. "We grew 9 per cent in the first half of 2024. Of course, quarter two is low seasonality and this year it was even low considering elections. But when we look at the third quarter it is again showing a good amount of bookings. The market is there. We are confident of a ...
Mercedes-Benz India wants the government to commit to continuity in policies that support electric mobility for the next eight to ten years, for stable and better planning towards zero emission mobility, its Managing Director and CEO Santosh Iyer said on Tuesday. Besides, the company feels that providing the incentives given to electric vehicles to hybrid vehicles will extend the timeline for transition to emission free mobility. The company, which had increased EV penetration to 6 per cent in the first quarter of 2024, from 2.5 per cent earlier, expects the momentum to carry going forward with three new EV models slated for launch this year, starting with the EQA next week. "A much more clear roadmap when it comes to taxation on EVs," Iyer told PTI here when asked about the company's expectations from the upcoming Union Budget. "We understand that the Budget may not address the GST topic, but at least if you are able to get a commitment that for the next eight to ten years, this k
German car-maker Mercedes Benz will make an investment of Rs 3,000 crore in Maharashtra, state Industries Minister Uday Samant said on Thursday. In a post on X, Samant said while on a tour of Germany, he met top executives of Mercedes Benz on Thursday and discussed investment opportunities in the state. "Mercedes Benz will invest Rs 3,000 crore in Maharashtra this year. This will help create employment opportunities in the state," he said. The development could give a shot in the arm, ahead of assembly elections, to the Shiv Sena-BJP-NCP government which has been battling charges from the opposition that Maharashtra is losing big-ticket industrial projects to other states including Gujarat.
Mercedes-Benz India is eyeing double-digit sales growth this fiscal as demand remains strong, especially for high-end models, a senior company executive said on Wednesday. The company, which on Wednesday introduced luxury models -- Maybach GLS 600 4MATIC SUV and AMG S 63 E Performance Edition 1 on Wednesday, had sold 18,123 units last fiscal. It was a growth of 10 per cent over 16,497 units sold in 2022-23. "We expect double-digit sales growth this fiscal as well. The demand for the company's top-end vehicles (TEV) remains robust," Mercedes-Benz India VP (Sales & Marketing) Lance Bennett told PTI. He said the company is focused on strengthening the TEV segment, which accounted for 1 out of 4 Mercedes cars sold in India during the first quarter of 2024. The new Maybach GLS 600 4MATIC is priced at Rs 3.35 crore while the AMG S 63 E Performance is priced at Rs 3.3 crore. The exclusive 'Edition 1' starts at Rs 3.8 crore (All prices ex-showroom). The TEV segment remains buoyant, ...
German carmaker Mercedes-Benz expects India to become its third biggest market in its 'Region Overseas' over the next 2-3 years with demand anticipated to remain strong for luxury products, according to a senior company executive. The Region Overseas for Mercedes Benz comprises 118 countries, excluding North America, Europe and China. India is the fifth largest market in the region after Japan, South Korea, Australia and Turkey. The sales gap between India and Turkey is around 8,000 units per year. "Our Region Overseas markets which encompass 118 markets across the world and India happens to be market number five for us. So you can imagine the relevance and importance it serves not only today, but also for the future of the Mercedes Benz brand," Mercedes-Benz AG Head of Region Overseas, Sagree Sardien told reporters here. When asked about the expected timeframe to achieve the target, she stated, "We are convinced that with the way the Indian market is developing, we should see thi