MUMBAI: In a bid to regain lost market share in India, Mercedes-Benz plans to assemble 8-9 models over the next few years, a move that would help it save on steep import duty and price its products more aggressively.
"We are going to change the rules of the game in the next three years with our CKD lines," said Peter Honegg, MD & CEO of Mercedes Benz India. The German premium carmaker on Tuesday launched the third generation ML class at 56.90 lakh. The company already assembles C, E and S class cars at its Chakan plant.
Over the next few years, Mercedes-Benz has lined up a slew of cars that it will assemble in India such as GL class, followed by B Class, A class and GLC class. The luxury carmaker is also investing Rs 350 crore in setting up assembly lines and the paint shop.
The company is aiming to sell 500 ML class this year and has already got over 100 bookings, said Honegg.
While the Stuttgart-based carmaker has lost out to Audi as the second-largest player in the country, Honegg says Mercedes-Benz is aiming for profitable growth in India.
In 2011, BMW was the No.1 player in the premium and luxury car segment in India, with sales of over 9,400 units, followed by Mercedes-Benz at 7,430 and Audi at 5,511 units.
While imported cars attract 110% duty, those assembled in India are levied a lower import duty of up to 30%.
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