• In the analysis of Santosh Iyer, the company's head of sales and marketing, potential buyers of its luxury cars are investing money in systematic investment plans instead.
In business, you never know where competition may arise. For Mercedes-Benz India, it's from an unlikely opportunity: the mutual fund industry. In the analysis of Santosh Iyer, the company's head of sales and marketing, buyers of its luxury cars are instead putting money into systematic investment plans. The actual sales recorded by the marque do not adequately reflect the wealth in the country, he observed.
Strange as it may sound, it is not inconceivable. For one, many big earners would rather spend their money than multiply it. Delayed gratification has always been held up as a virtue, and rising stock markets make the idea attractive. For another, the automotive world is in flux right now.
The threat of climate change is pushing personal transport away from fossil fuel use, but a transition to cleaner alternatives has yet to offer a satisfactory range of options that's diverse and well-diversified for a fancy set of wheels. Will attract target audience.
There is no doubt that the EQS range of Mercedes-Benz EVs has been a major head-turner. But some luxury-class consumers would be wise to see what else will be available in India soon. Until then, investment is indicated.
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