Carmaker DaimlerChrysler India launched the super luxury sedan Maybach in New Delhi on Wednesday at a staggering price tag of Rs 5 crore (Rs 50 million).

The sedan will come as a completely built unit.

The company will start bookings for Maybach from next month.

Asked whether the company would enter the domestic commercial vehicle market, DaimlerChrysler India CEO Hans Michael Huber said: "We will reach to a decision by the middle of 2004. If the idea makes sense, we may think of it."

"Asia is very important market for us and India is very strategic and has the fastest growth rate after China. We will launch new products and upgrades here," Petri said.

"Though we posted a sales growth of 30 per cent last year, we may not witness the same kind of growth this year. Beginning of 2003, we did not expect this kind of volumes," he said.

"Growth is impressive, but volumes need to be improved."

The company has already tested road-worthiness of one of its commercial vehicle Atros.

The company expects 10-12 per cent sales rise in 2004, Huber said.

DaimlerChrysler said its profit dipped by over 10 per cent in calendar 2003 even as it would launch more models an*d upgrade this year.

The net profit of the company dipped to Rs 34 crore (Rs 340 million) in 2003 over Rs 38 crore (Rs 380 million) in the previous year, which was largely on account of exchange rate fluctuation.

However, sales grew by 30 per cent to 1,581 units in 2003 over 1,208 units in the previous year, DaimlerChrysler India Chairman Helmut Petri said.

Out of 1,208 units sold in 2003, the 'S Class' constituted 84 units, 'E Class' 667 units, and 'C Class' 746 units', while CBU imports stood at 84 units.

Auto component exports of the company also grew by 11 per cent to 72 million euro in 2003.

DaimlerChrysler sources components from large domestic IT firms and other ancillary companies like Bharat Forge.