Mercedes-Benz expects India to be its third-largest global market by 2027

The luxury car market in India has been growing at a rapid pace over the last few years. A large number of young car buyers are showing interest in purchasing luxury cars instead of mass-market models.

Buoyed by this shift in consumer preference, Mercedes-Benz expects India to be its third-largest market in the world among 118 countries over the next two to three years, PTI has reported.

Currently, India is the fifth-largest market for the German luxury car marque after Japan, South Korea, Australia and Turkey in its ‘Region Overseas’ strategy, which includes 118 countries, excluding markets such as North America, Europe and China. The car manufacturer has reportedly stated that the sales gap between the fourth and fifth largest global markets for the OEM, respectively Turkey and India is around 8,000 units per year, which is expected to narrow fast over the coming months, resulting in India going up in the chart.