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Luxury car makers eye young buyers
Posted on 08 Aug 20122,761 Views Comments
Mercedes, BMW and Audi to launch compact cars between Rs 25L-30L in India for youth
Luxury carmakers Mercedes, BMW and Audi are exploring the bottom half of the price spectrum to step up sales by driving in small cars in the Rs 25 to Rs 30 lakh price bracket. Currently, most of the models of these three premium auto companies are priced above Rs 30 lakh.
Mercedes is planning to launch the B-Class, a compact sports tourer, and A-Class, a small family car; Audi will roll out the A3 hatchback, say people familiar with the plan; and BMW is developing an all-new platform for cheaper models. It is also planning to launch the 1-series in 2015 to compete with Audi's A3 and Mercedes' A-Class, people close to the development said.
Also read: Mercedes-Benz A-Class : First Drive
Clearly, these iconic car brands are attempting to appeal to the younger and highly aspirational salaried class, and make the relatively cheaper offerings an entry point into a world of luxury and super luxury wheels.
Mercedes will start delivering the B class sports tourer in September this year and the A-Class -- its entry-level model in most world markets -- in the third quarter of 2013.
"Consumers no longer want to compromise on the brand. The young consumer wants to touch a luxury brand far earlier in life and not settle for a mass brand," explains Debashis Mitra, director, sales & marketing, Mercedes Benz India. In five to six years, Mercedes Benz India expects cars priced in the Rs 25-30 lakh band to account for 40-50 per cent of total sales.
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