German luxury car manufacturer Mercedes-Benz is aiming for 10-fold increase in sales by 2020 by investing Rs. 1,000 and enhancing capacity. The company wishes its sales to grow from 7,430 in 2011 to 25,000 unit sales in 2016 and to proceed to 90,000 units by 2020. In order to achieve this target, the company plans to launch two volume driving models in the Indian market annually. The B-Class hatchback will hit the Indian market by the end of 2012, followed by the A Class compact car in 2013 and the GLC premium SUV in 2014, says Mr. Debashis Mitra, Director (Sales & Marketing), Mercedes-Benz India Ltd (MBIL).
These new cars proposed to be launched will be tagged with a price of Rs. 20,00,000 to Rs. 25,00,000, thus lowering the entry level for customers from the current entry level range of Rs. 26,00.000 to Rs. 36,00,000 for the C Class. Mr. Mitra also added that the company has decided to increase the localization level of its products in order to keep its prices competitive.
