DaimlerChrysler eyes tier-II cities | india | Hindustan Times
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DaimlerChrysler eyes tier-II cities

Betting big on the positive economic trends in the country, DaimlerChrysler, is hoping to expand its market share in India.

india Updated: Apr 15, 2006 17:31 IST

Betting big on the positive economic trends in the country, DaimlerChrysler, makers of Mercedes-Benz, is hoping to expand its market share in India.

The global luxury car major, which had been growing at a steady rate in India since 1999, "would also focus on tier-II cities", Wilfried Aulbur, Managing Director and CEO, DaimlerChrysler India said.

Formally introducing S-Class and M Class vehicles in Hyderabad market, Aulber said the growth of Information Technology (IT) in southern markets had a positive impact on the sales of Mercedes-Benz.

"We are currently present in 24 cities in India and will soon enter Indore and Agra," he said.

The S-Class and M Class vehicles, which in the price bracket of Rs 80 lakh to Rs 1.3 crore, elicited good response in Delhi and in Mumbai, he said.

The company has sold over 2000 vehicles in India during the last fiscal out of over 1.46 million units sold globally.

"What we are selling in India is a very small portion of our global sales but we are extremely bullish on India market," Aulbur said.

In the last five years, the company sales grew at an average 16 per cent, he said.

In Andhra Pradesh, 125 units were sold last fiscal in which `C' Class vehicles were in majority, Aulbur added.