Ludhiana: Those dreaming of owning the luxurious fantasy Mercedes Benz have a reason to rejoice as the elite car brand is set to launch its Premium Class in the small car segment.

The company has already sold 5,700 cars till September this year, surpassing the sales figure of 5,600 units for whole 2010, and aims to sell 7,000 units by the end of 2011. The luxury car market is expected to grow between 20-30 percent this year.

The new Mercedes model will be equipped with all the safety equipments and will be the cheapest in the elite car camp. The announcement was made by the company MD and CEO Peter Honegg who inaugurated a dealership showroom in Chandigarh on Monday.

He said, the small car segment is enormous in India but since the Mercedes is known for its luxurious products, the company has decided to introduce its small Premium Class model.

This model will be the next in its Mercedes S-Class, E-Class and C-Class series under the tag of the B-Class. The car will be manufactured at the Mercedes plant in Pune and is being designed according to the Indian roads.
 
This low budget car is expected to be in the range of Rs 18- Rs 22 lakh for which the company has begun special preparations, he said.

According to Honegg, the Mercedes is known for its Mercedes segment and ABS segment which range between Rs 25 lakhs and Rs 1 crore. Hence launching a small car is not the policy of the company.

Honegg said that out of the total Mercedes models manufactured in India, 50 percent are sold in Punjab itself.

Surprisingly, Punjab hails in the most number of Mercedes cars as currently 3,000 cars are running in the state as the company has sold an amazing 1100 cars in last two years. The company is now eying the top slot in the state.

Honegg also revealed that Mercedes Benz will soon be the first company to offer cars on lease in India.

(JPN/Bureau)