Mercedes Benz India, the Indian subsidiary of the German luxury automobile manufacturer Mercedes Benz has announced its decision to double its production capacity in India with the aim of expanding its current market share to more than 4 percent by the year 2020.
The capacity at the carmaker’s Chakan plant near Pune will be doubled to 20,000 units annually with an investment of Rs 250 crore with the aim to cater to the increase in demand in the Indian luxury car market.
The carmaker has also decided to observe the year 2013 as the ‘Year of Offensive’ to boost its sales and targets double digit growth in the fiscal 2013-14. According to Mr. Boris Fitz Director and the Member of Board of Management Mercedes Benz India, the carmaker aims to sell about 28,000 cars in India annually by the year 2020.
Mr. Fitz added that such a sales figure would account for about 4 percent of India’s total luxury car market of 3,00,000 units. He also stated that the sales figure for the period January to March 2013 stood at 2009 units which was a 5.3 percent increase over the sales in the same period in 2012.