German luxury car maker Mercedes Benz said it expects India to be among its top ten global markets by 2020, as it continues to bring latest models and spread sales network in the country.
The company which launched the new E Class model priced between Rs.41.51 lakh and Rs.44.48 lakh (ex-showroom Delhi) said it will look to reduce the time gap between global showcase of a new model and its launch in India as part of its aggressive business strategy for the country.
Mercedes Benz India Managing Director and CEO Eberhard Kern commenting on the potential of the Indian market, said: "The base on which we are working is that by 2020 the overall car market in India will be 7 million units, up from 2.6 million last year."Of the total, the share of the luxury segment will be 4 per cent by 2020, as compared to 1.2 per cent last year, he added.
"So the potential is huge in India and we are preparing ourself for the future although 2013 will not be a good year for the auto sector here," Kern said.
The E Class will be available in both petrol and diesel options. While the petrol version is powered by a 2 litre engine, the diesel has a 2.2 litre engine. The company is also offering a special launch edition of the new E Class at Rs.49.9 lakh (ex-showroom Delhi).
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