Daimler to sell 5 new models in India in '10

Daimler AG, the world's second-largest luxury carmaker, will introduce five new models in India this year, as economic expansion in the country enables more people to buy premium vehicles.

The company expects India sales to increase by "double digit" in percentage this year, Wilfried Aulbur, chief executive officer of the German automaker's Indian unit, said in New Delhi today. He didn't elaborate.

India, which has 120,000 millionaires now, will produce more high-net-worth individuals who will then be potential customers of Mercedes-Benz models, Aulbur said. Bayerische Motoren Werke AG and Tata Motors Ltd.'s Jaguar Land Rover luxury unit are among companies introducing new models in the country as economic growth and a surge in stock market boosts demand.

Daimler's India sales rose 12 percent to 3,172 units in the year ended March 31, according to the Society of Indian Automobile Manufacturers. Rival BMW's sales grew 34 percent to 2,742 in the same period.

Stuttgart, Germany-based Daimler today unveiled the S500-L car and the GL-350 CDI sport-utility vehicle.