Mercedes-Benz rolls out V-Class Elite at Rs 1.10 crore

Chennai: Eyeing a larger share in the premium luxury segment, German car maker Mercedes-Benz on Thursday rolled out its new multi-purpose vehicle V-Class Elite.

The V-Class Elite, an upgraded version of V-Class Expression and V-Class Exclusive would be built in Spain and sold in domestic market, company Managing Director and CEO, Martin Schwenk said.

After unveiling the car here, Schwenk said the luxury MPV is priced at Rs 1.10 crore (ex-showroom India) and would be sold along with V-Class product range V-Class Expression at Rs 68.40 lakh (ex-showroom India) and V-Class Exclusive at Rs 81.90 lakh (ex-showroom India).

The company besides launching luxury MPV would also look at unveiling new product every month, he said. Mercedes-Benz holds about 40 per cent market share in the luxury market segment, he said.

"We will be continuing our product offensive in Q4 as well, and we strive to launch a product every month, going forward into the next year", he told reporters.

To a query, he said the company was going ahead with its proposal to launch 'a new product every month' despite the transition happening from BSIV to BSVI emission norms.

Declining to reveal any target figures for Mercedes-Benz India, he said, "we are also very satisfied with our sales performance, particularly during the festive period and have witnessed early signs of recovery".

Asked whether the company would stop producing BSIV norms automobiles at its factory in India from January 1 2020, he said, "Definitely, from January it will be."