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.

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