This article is more than 1 month old.

Second COVID wave has not hit industry that badly, demand should be back, says Mercedes-Benz's Santosh Iyer

Mini

Luxury carmaker Mercedes-Benz India is witnessing a robust demand recovery and all of the company’s recent launches have been sold out for the next two-three months. Santosh Iyer, vice-president of sales & marketing at Mercedes-Benz India, said though demand is bouncing back, supply chain issues continue to be a dampener.

Luxury carmaker Mercedes-Benz India is witnessing a robust demand recovery and all of the company’s recent launches have been sold out for the next two-three months and customer enquiries are back to pre-COVID levels. Santosh Iyer, vice-president of sales & marketing at Mercedes-Benz India, said though demand is bouncing back, supply chain issues continue to be a dampener.
He said, “We have all gone through a very torrid time and the second wave hit us by surprise.” However, in the automotive industry, there is nothing other than products that excite the market. So, we decided to unleash all our products," said Iyer.
"First, we started with GLA, which has sold out till July. We followed that with GLS Maybach, which also got sold out," said Iyer, adding that S Class also saw a tremendous response.
He said sentiment to buy is coming back, which is clearly reflected in enquires for the company's products and the first-half numbers are expected to be 50 percent higher than last year. Iyer said it shows that the second wave has not hit that badly and demand should be back.
He said, “Wherever we have opened our showroom, within the first 10 days we have seen enquiry levels almost as same as February and March that is almost close to pre-COVID levels.”On the sales front, he said the company is committed to high double-digit growth and should be able to cross the five-digit mark. Iyer said last year the company sold 7,800 units.
Talking about supply chain issues, he said that is the biggest casualty of this entire COVID situation – there is the semiconductor shortage, non-availability of containers, some imports, etc. According to him, it could take nearly 6-8 months for the situation to normalise.
For the full interview watch video

Market Movers

CompanyPriceChng%Chng
Asian Paints3,046.20 72.15 2.43
Titan Company1,811.00 39.45 2.23
Power Grid Corp173.30 2.30 1.35
HDFC2,494.00 31.95 1.30
Britannia3,547.20 42.55 1.21
CompanyPriceChng%Chng
Asian Paints3,046.25 75.35 2.54
Titan Company1,812.35 42.10 2.38
Power Grid Corp173.35 2.45 1.43
HDFC2,494.20 31.90 1.30
Bajaj Finserv14,231.55 106.80 0.76
CompanyPriceChng%Chng
Grasim1,550.40 -41.25 -2.59
JSW Steel737.10 -9.60 -1.29
HCL Tech1,026.50 -8.90 -0.86
ONGC116.20 -0.90 -0.77
Bajaj Auto3,817.00 -24.55 -0.64
CompanyPriceChng%Chng
HCL Tech1,026.10 -9.15 -0.88
Tata Steel1,399.75 -10.20 -0.72
Bajaj Auto3,817.90 -22.75 -0.59
ICICI Bank679.55 -2.00 -0.29
NTPC117.40 -0.40 -0.34

Currency

CompanyPriceChng%Chng
Dollar-Rupee74.34000.00000.00
Euro-Rupee88.29100.05500.06
Pound-Rupee103.29400.08300.08
Rupee-100 Yen0.68050.00060.09