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June 26, Monday 2017 10:46 AM       

       HEADLINES: Handwriting is not that of Pulsar Suni’s, Dilip’s statement to be recorded                                              Woman tied to tree and assaulted, an insult to state, says Chennithala                                              Telephonic conversation between Dilip’s manager and Vishnu exposed                                              Unexpected hurricane at Kundamkulam                                              K R Mohanan dies                                              Five more TN fishermen arrested by Sri Lankan Navy                                              Modi greets nation on Eid, says diversity is India's strength                                              123 killed, 100 injured as oil tanker explodes in Pak                                              Malaysia-bound AirAsia flight ‘shaking like washing machine’ returns to Aus                                              Shiv Kapur makes cut, but slips to T-42nd in Germany                                              Super Srikanth lifts Australian Open Super Series                                              BAI announces Rs 5 lakh for Srikanth                                              Kaumudi Facebook
       AUTOMOBILE Next Article: BMW to offer new version of i3 electric car in 2017  
       Mercedes hits currency recall speed bump, lowers sales target
 
         Posted on :15:56:20 Dec 12, 2016
   
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       Last edited on:15:56:20 Dec 12, 2016
         Tags: Mercedes hits currency recall speed bump, low
 
NEW DELHI: German luxury carmaker Mercedes Benz today said it has revised downwards its sales growth target for this year in India from an original double digits to flat, mainly due to impact of demonetisation.
 
The company, which sold 13,502 units last year, however, said it will be looking to grow double digits in 2017.
 
"In October, when we came out of the diesel ban in Delhi-NCR, we were still looking for double-digit growth in sales from last year, but demonetisation has had an impact. We will be lucky if we do the same number as last year," Mercedes Benz India Managing Director and CEO Roland Folger told reporters here.
 
He, however, supported Modi government's demonetisation step, saying it will be beneficial in the long term.
 
Describing 2016 as a year of challenges, surprises and lost opportunities, Folger hoped that the next year will be better for the industry as a whole.
 
"This will be a flat year for the luxury car industry in India. However, the next year should be better. We believe that the customers are only postponing their purchases and they'll come back next year," he said.
 
Asked about Mercedes Benz India's target for the next year, he said, the automaker always looks for double-digit growth, provided there are no disruptive surprises.
 
Betting on the mid and long-term future of the Indian market, Folger said, "The market has been steady for a long time and disruptive changes like demonetisation and GST lay down the foundation for long-term growth."
 
The company today opened its 89th outlet in the country with the inauguration of a new showroom in the capital.
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       AUTOMOBILE
Next Article: BMW to offer new version of i3 electric car in 2017
 
 
AUTOMOBILE HEADLINES
Hero MotoCorp phases out select models, variants  
Maruti overtakes Infosys, ONGC in market capitalisation  
GM to stop selling cars in India by 2017 end  
India eyes all-electric car fleet by 2030  
Honda Activa now world's largest selling two-wheeler  
Tata Safari Storme replaces Maruti Gypsy in Indian Armed Forces  
Made-in-India Jeep to hit market by June  
Tata Motors launches compact sedan Tigor in Rajasthan  
Maruti, Hyundai clock record yearly sales in 2016-17  
Nissan launches new version of Terrano  
Renault India sales up 26.8% in February at 11,198 units  
Volvo eyes long haul transportation segment in India  
JLR launches Made-in-India Jaguar XF at Rs 47.50 lakh onwards  
Ambassador brand now gets a new owner in Peugeot  
Car sales up 11%; passenger vehicles up 14% in Jan  
Delhi HC seeks Centre, AAP govt reply on plea against faulty CNG kits  
Mercedes hits currency recall speed bump, lowers sales target  
BMW to offer new version of i3 electric car in 2017  
Porsche launches Macan variant priced at Rs 76.84 lakh  
Mercedes launches two convertibles priced up to Rs 2.25 cr  
Toyota launches Fortuner variants priced up to Rs 31.12 lakh  
Maruti, Hyundai lead robust car sales in October  
Mahindra launches electric car 'e2oPlus'  
BMW launches 3 Series Gran Turismo priced up to Rs 47.5 lakh  
Honda,Yamaha explore collaboration for small scooters in Japan  
 
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