German luxury car maker Audi on Wednesday unveiled its much-awaited A3 sedan in the country and said it will be formally launched in the domestic market by mid-2014.
The Audi A3 is expected to be its cheapest sedan, and compete with the Mercedes C-class and BMW’s 3-series.
While the company declined to give any price range for the new vehicle, A3’s sister model – the Q3 SUV -- is the cheapest Audi available at Rs 24.99 lakh.
"This is the right car at the right time. India is among our top 10 priority markets. We will launch the car by mid-2014," Audi AG vice-president (Overseas Sales) Terence Johnson told PTI.
He said that in 2013, the company has achieved new sales record in 40 markets and India was one of them. It has sold 10,002 units in 2013, an increase of about 11% over the previous year.
"We believe this market has tremendous potential for further growth of brand Audi. Reaffirming our commitment to the Indian market, we are bringing the Audi A3 Sedan. We expect the Indian market to continue to grow and to contribute substantially to Audi's global sales," he added.
In the country's total market of luxury cars, Audi accounts for about 2%.
"We will continue with our network expansion strategy and plan to increase out network to 40 dealerships by end of 2014," Audi India Head Joe King said.
The company opened 11 new dealerships last year.
About the growth of Indian luxury car market, Johnson said that the sector is growing at about 7%. "It is a good growth but not huge...this year also, I expect 5-7% growth in the segment in India... but over 10% growth will be pretty well," he said.
Further, the company showcased the concept car – Audi Sport Quattro.
Besides, it unveiled special versions of SUVs - Audi Q3, Audi Q5 and Audi Q7. It also showcased Audi RS Sportback.
"We have kick-started 2014 on a strong note and as we continue to strengthen our market leadership," King said.
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