Mercedes-Benz names Martin Schwenk the new chief for India operations

Mercedes-Benz- One of world’s biggest auto-makers, the Indian subsidiary of which is headquartered in Pune. It is one of the most attractive employers in India. (Reuters)

India’s largest luxury car maker Mercedes-Benz today announced the appointment of Martin Schwenk as the new Managing Director and CEO of its India operations with effect from November 1.

Martin Schwenk is currently the Chief Financial Officer of Beijing Mercedes-Benz Sales Service Co. Ltd. in China.

Schwenk will replace Roland Folger, who will assume a new position for Mercedes-Benz’s Thailand and Vietnam markets.

In the last three years under Folger, Mercedes-Benz India witnessed significant growth, achieving the highest share — of 40 percent — in the luxury car market.

In 2017, Mercedes-Benz India achieved sales history by crossing the 15,000 annual sales number. In the first half of this year, the company clocked 12 percent growth at 8,061 units. Mercedes-Benz leads the luxury pack followed by BMW, Audi, Jaguar Land Rover and Volvo.

“Having worked in different countries and functions, I am extremely excited for my forthcoming responsibility to head the dynamic India market. India’s rich cultural diversity, the young population, the diverse customs, different languages and topography together with its importance as a future economic power house; makes it a compelling market to grow the business”, said Schwenk.

Martin Schwenk

Schwenk who has an engineering degree from the University of Stuttgart started his career at Daimler in 1992, through the Mercedes-Benz Trainee Program.

He then undertook various important positions in finance and controlling in several locations, including Germany, South Africa, Austria and United States.

Roland Folger, the outgoing Managing Director & CEO, Mercedes-Benz India commented, “My India stint will remain memorable with rich experiences and fond memories. The warmth of our customers and people, the diversity of the country’s culture, and the unique business opportunities and challenges that this market presents, is enormous and truly enriching”.

“While I am eagerly looking forward to my new assignment, there will be a bit of India always inside me. I appreciate all the invaluable and unconditional support that I received from my colleagues here and would also like to thank our investors who are the best and the most professional in the business”, added Folger.