Launching the high-end E-Class Coupe here today with a price tag of Rs 55 lakh apiece, the luxury car major Mercedes-Benz India today said it is looking at the possibility of entering the small car space in the country.
"There is potential for a small car in this market (for us). We have to see the psychology of the consumer and the market maturity will tell us when to launch the small car," Mercedes-Benz India Sales and Marketing Director Debashish Mitra said at the launch of the new E-Class Coupe here.
He said the company is looking at bringing in the A-Class range to compete in the country's compact car segment, that is the fastest growing segment in the 1.2 million domestic car market.
Launching the E-Class Coupe, Mercedes-Benz India managing director and chief executive Wilfried Aulbur said, "we have launched our new E-Class Coupe, the most aerodynamic series production car in the world. It comes with an aggressive price tag of Rs 54.83 lakh onwards (ex-showroom Mumbai)."
The new E-Class Coupe has state-of-the-art technology and high safety standards, which meet the needs of young individuals looking for a car that is athletic, striking and passionate, Aulbur said.
The new E-Class Coupe will be retailed through Mercedes-Benz dealerships across the country.
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Mercedes-Benz India is also exploring the possibility of bringing its financial services arm to the country. "This would provide a boost to our commercial vehicles business here, where it also sells high-end buses and trucks," Aulbur said.
The company is planning to launch more models and expand with showrooms and dealerships in tier-2 and tier-3 markets like Goa, Bhubaneshwar, Indore, Aurangabad and Surat, Aulbur said.
Mercedes-Benz India is looking at options to launch a new small car in its A-Class range to compete in the compact car segment in the country. "There is potential for a small car here. We have to see the psychology of the consumer and the market maturity will tell us when to launch the small car," Mitra said.
Commenting on the industry's growth, Mitra said the car industry grew 56 per cent in 2006-07, 76 per cent in 2007-08, 16 per cent in 2008-09.