After losing considerable market share to BMW, Mercedes India wants to regain its dominant role in the Indian luxury Automotive Market. Their strategy to achieve this goal - tap those market which are still virgin – the Tier II and the Tier III cities.
The luxury car maker also announced opening of its financial arm.
Mercedes Benz India CEO Peter T. Honegg -
Though it will be difficult to compete with banks, through internal business we can offer an array of service packages
To set up their new base, Mercedes is planning 7 to 10 tier II and tier III cities in one year, for a period of three to five years. They aim to sell close to 50 units per year in those markets.
Source - BSMotoring.com
