New Delhi, Oct 9 (PTI) German luxury carmaker Mercedes-Benz India Tuesday reported a marginal dip in its sales at 11,789 units for the January-September period compared to 11,869 units in the same period of last year.
It faced significant headwinds during the period under review due to various micro-economic factors like rising interest rates, inflationary hikes, depreciation of the rupee and rising import costs, the company said in a statement.
Besides, a substantially high base of last year also posed significant sales challenges in the third quarter of 2018, Mercedes-Benz India said in a statement.
“We are satisfied with our sales performance despite experiencing the prevailing micro-economic headwinds and also a high base of 2017, which was a result of the strong built up to the GST roll-out and also the onset of an earlier festive season, posing stiff sales challenges,” Michael Jopp, Vice President of Sales and Marketing, Mercedes-Benz India said.
Moving into the last quarter of 2018, the company is confident of a good festive season, he added.
The automaker said its sales momentum in the first three quarters of 2018 was driven by mainstay products in the portfolio comprising the long wheelbase E-Class, the C-Class sedan, compact cars and SUVs.
Last week, BMW India had reported 11 per cent increase in its sales for the January-September period of this year at 7,915 units.
Another German carmaker, Audi is yet to come out with its sales number for the period.
This is published unedited from the PTI feed.