Indians prefer SIP mutual funds over swanky cars, says Mercedes-Benz marketing head
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Monthly inflows in Systematic Investment Plan (SIP) mutual funds surged to Rs 12,000 crore between May and August this year. Similarly, luxury car sales in India went up by 55% in the first half of 2022, as compared to the same period a year before. It doesn’t seem like the two are inversely proportional, but carmaker Mercedes-Benz’s sales and marketing head in India, Santosh Iyer feels the two are somehow related.