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Twitter slams Mercedes for blaming SIPs for low sales: 'They don't know India'

‘Netflix competes with sleep. Now Mercedes complaints about SIP culture,” a Twitter user said.

November 28, 2022 / 12:40 PM IST
Santosh Iyer will take over as MD and CEO of Mercedes-Benz India operations from January.

Santosh Iyer will take over as MD and CEO of Mercedes-Benz India operations from January.

An observation by a top executive of Mercedes-Benz India that systematic investment plans (SIPs) are the luxury car brand’s biggest competitors in India has drawn many reactions on the internet.

"While the luxury car industry is growing at one of its fastest paces post-pandemic, actual sales are a far cry from potential and wealth that India carries," Santosh Iyer, the sales and marketing head of Mercedes-Benz India, told the Times of India in an interview.

He will take over as MD and CEO of Mercedes India operations from January.

"While there are 15,000 people inquiring about luxury cars every month, the actual order size is about 1500 units. So, there are still 13,500 customers who desire to own a Mercedes-Benz, but postpone their purchase thinking that its fine, maybe, I should continue (with) my SIP or maybe the next dip (in markets) is there.”