Mercedes Benz cars to be available on lease

Mercedes Benz has started understanding Indian market very well now and so, the luxury car maker has declared that it plans to give cars to customers in India on lease basis. However the move will come into effect once the financial wing of Mercedes-Benz India (Mercedes Benz Financial Services) will launch. The scheme will be launched seeing that luxury cars in India account for around 20,000-25,000 units per month, which is expected to reach 3,00,000 units in 10 years at a growth rate of 8-10%. Peter Honegg, Managing Director of Mercedes Benz India told reporters that the car manufacturer is studying the market and will be making a formal announcement in the next few weeks.

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Honegg said the concept was well received in developed nations as an individual does not need to own a car but still can use it. Publicly listed companies will be targeted once it is launched. A few months back, Mercedes Benz had formally announced the financial services division in India. In the lease process, the "residual disk" would be borne by the manufacturer while the financial services division offers financial options and the retailer is happy selling the cars. This scheme will popularize Mercedes Benz cars in India and will help Mercedes Benz to reach it target of selling over 7,000 units this year compared to 5,600 last year.

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On further developments taking place in company, Honegg said that Mercedes-Benz contrives to introduce diesel variants on some of its cars in India. Although most of the world markets are witnessing fairly good demand for petrol cars, India is abuzz of diesel cars owing to consistent hikes in petrol prices. Thus, Mercedes India would develop a new strategy to launch diesel variants in India, considering that in the United States and Germany most vehicles sold were petrol variants only. He said 40% of Mercedes cars sold in India are diesel. However, the company wants to make it 80 to 90%. Mercedes-Benz will bring in some more diesel variants on Mercedes Benz E350 series along with some other models.

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