In a bid to compete more promptly with its arch rivals like BMW and Audi in the Indian market, the leading luxury car maker Mercedes Benz is planning to invest heavily (about Rs 350 crore), at its Chakan plant for the capacity expansion and roll-out a series of new car models in the country. The company plans to roll-out as many as five new compact premium cars in the Indian market over the period of next two years.
Speaking on the significance of the Indian auto market for the company, Mr. Dieter Zetsche, Head of Mercedes-Benz Cars and Chairman of the board of management at Daimler AG, said, "India is an important growth market for the firm. We see high demand for our A and B Class segments in India. We plan to enlarge our dealer network and ramp up production capacities."
So far, Mercedes Benz has already invested a sum of over Rs 650 crore in the Indian auto market and plans to invest Rs 1,000 crore more in the coming years. The upcoming vehicles of the company in India include new lower priced A Class and B Class models along with a new luxury Sports Utility Vehicle (SUV).
At present, Mercedes Benz is the second largest selling luxury car brand in the Indian auto market, following BMW at the top spot.
