New Delhi: Mercedes Benz India announced on Monday that Martin Schwenk will be the new MD and CEO of the company here from November 1 with Roland Folger moving to oversee business in Thailand and Vietnam.
Folger's three-year term in India saw Mercedes become the No. 1 brand in the luxury car market in India with the launch of several new products, including many AMG variants. Under him, Mercedes managed to re-invent its brand growth strategy - something that Schwenk will now hope to take even further.
Schwenk, currently the CFO at Beijing Mercedes-Benz Sales Service Co., has said he is looking forward to the new responsibility. " 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," he said.
While Mercedes registered strong sales in the Jan-June 2018 period with 8061 units, India is still quite far behind China in the luxury car market. The German auto giants though would be hoping to now not just maintain its lead over rivals in India but take the market here somewhere closer to what it is in China.