Luxury car companies such as Mercedes-Benz India have also been affected by the slowdown in the Indian automobile industry, with the impact quite visible both in the first quarter as well as the first half of this calendar year. The company sold 6,561 units in the first half of this year, a 19 per cent fall against the same period last year (it sold 8,061 units in January-June last year). In an interview with BusinessLine, Martin Schwenk, Managing Director and Chief Executive Officer, Mercedes-Benz, said the company has revised its target for this year and that a lot of offerings are being made to customers for the upcoming festival season. Excerpts:
How are you coping with the current market scenario?
We have seen a softer market, and our customers are also affected by liquidity and finance problems. Many of them are also business owners, so they have bigger concerns than buying a car. We are also part of the industry and cannot be separate from them.
What measures are you taking?
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September 10, 2019