Automobile major Mercedes Benz reported record-high sales in October. Martin Schwenk, CEO of the company, remains upbeat about the improved sales figures as the October numbers have matched the last year's level.
Schwenk told CNBC-TV18 that the growth in the auto sector depends on the overall business climate. “It is very hard to judge the sentiment, but for my brand and Mercedes Benz, I can clearly say we will see an improvement. We see customers coming into the showrooms, we see more sales and interest. A lot of our portfolio is already on BS-VI so that takes some hesitation away," he noted.
Speaking about BS-IV vehicle inventory he said, “I would rather say you wouldn’t get BS-IV vehicles from us from next year. So it will be scarce in the market already. So we are absolutely on track with that.”
According to Schwenk, the industry will probably be a little more positive next year. "However, it is still a wildcard, what is going to happen by the end of March or the beginning of April; It all depends on inventories at dealers. For me, I just can say I feel prepared. For Mercedes, we always have been assuming that the growth story in India will continue and I am very confident that this will happen definitely in our segment, we will come back to the growth path.”