Daimler AG (Frankfurt: DAI) will be rolling out an AMG high performance version of its Mercedes-Benz A-class hatchback to appeal to young customers and increase sales by 50 percent, according to a report by Bloomberg News Tuesday.

AMG models tend to be beefed-up, higher-performance versions of their vanilla Mercedes-Benz cousins, and the choice to give the AMG treatment to the A-class is reminiscent of the Abarth version of the Fiat 500. The Abarth is the sport-tuned version of the Fiat 500.

Mercedes will be adding eight new models to its current 22-model AMG lineup in a bid to outsell archrival BMW by 2020, Bloomberg reported. Mercedes believes the AMG moniker will help it capture market share among young drivers who want performance cars.

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Shares of the Stuttgart-based automaker fell 0.45 percent Tuesday to €35.02 ($43.69).