German luxury car maker Mercedes-Benz Tuesday launched its third generation sports utility vehicle M-Class priced at Rs.56.9 lakh (ex-showroom Delhi).
The off-roader comes with technologies such as customised settings for engine performance, automatic transmission, anti-lock braking system, electronic stability programme and electronic traction system.
Another variant of the new vehicle, the AMG edition of 100 units, priced at Rs.66 lakh (ex-showroom Delhi) was completely sold off through pre-bookings even before the launch.
"At the start of this year, we had promised to introduce exciting new models into the market. We are proud to present the new M-Class," Peter Honegg, managing director and chief executive, Mercedes-Benz, said.
According to Honegg, the company expects a boost in sales after the launch of compact segment brands such as A-Class and B-Class enters the market. He, however, did not divulge any price details or the launch time of the vehicles.
The company sold around 7,500 units in 2011, which was a growth of 30 per cent over 2010, but in 2012, it expects to grow at a much slower pace of 20 per cent due to the existing market environment.
Mercedes-Benz was the second-largest luxury car seller in 2011 with sales of around 7,500 units.
The company expects to become number luxury sellers of luxury cars in India by 2020; the growth will get a boost when the compact models enter the Indian market.