The luxury car market will gain some stability and return to a growth path in 2020, said Martin Schwenk, MD and CEO, Mercedes-Benz India, the country’s largest luxury car maker.

Growth momentum has been picking up in the last 3-5 months and the industry seems to have managed inventory levels, apart from being prepared for the transition to BS-6 emission norms (to be enforced from April 1, 2020 onwards), said Schwenk. This will certainly create some stability in the market and help to be not too disruptive, he said.

The German car maker on Tuesday announced its foray into the electric vehicle category in India with the launch of its product and technology brand ‘EQ’, under which its first fully electric vehicle ‘EQC’ will be launched in April 2020. The launch of EQ forms an important pillar of its focus on sustainable luxury, which Mercedes-Benz said is its future roadmap in India.