PUNE: Mercedes-Benz, India's biggest German luxury car maker, continued to post drop in sales from the first quarter to the second quarter ending in June.
Sales in Jan-June 2019 period at the Pune-headquartered auto major dropped by a whopping 18.60 per cent to 6,561 cars, hit by the slowdown and high cost of ownership, among other factors.
The maker of popular C-Class and E-Class sedans had sold 8,061 cars in the first half of last year. In the Jan-March quarter, it had also recorded sales decline at 15 per cent to 3,885 cars.
However, the German company said it clocked satisfactory sales performance under continuing strong macro-eco-nomic challenges that comprise rising interest rates, inflationary hikes, liquidity crunch, rising import costs, all leading to muted customer interest.
Despite these factors and challenges, Mercedes-Benz continues to lead the luxury car market in India, having a relatively higher base....