Mercedes-Benz announced the U.S. release of the 2019 A-Class. The emblem of a Mercedes-Benz of C-Class car is pictured on the assembly line of Mercedes-Benz on Jan. 24, 2017 in Bremen, Germany. Alexander Koerner/Getty Images

In a bid to appeal to younger consumers, Mercedes-Benz is introducing its newest entry-level sedan with a price tag that would make it the luxury carmaker’s most cost-efficient model to debut on the U.S. market.

The 2019 Mercedes-Benz A-Class sedan will go on sale in the U.S. later this year, said Mercedes USA President and CEO Dietmar Exler during a launch event Wednesday in New York City, the Economic Times reported. The automaker hopes its price point will help it to appeal to millennial buyers.

"The formula for success in this industry is pretty simple: attract younger customers to the brand and keep them for life," Exler said during the event. "The A-Class will establish an all-new gateway for our brand to new customers, the young."

While Mercedes-Benz has not released the price of the car just yet, reports have speculated it will host a price tag ranging from the low $30,000s to "less than $40,000."

According to Popular Mechanics, the A-Class Sedan will be available in two makes: a front-wheel-drive A 220 and an A220 4MATIC in four-wheel-drive. They both come sporting a 2.0L inline-4 turbocharged engine with 188 horsepower and 221 pound-feet of torque. Its top speed is 130 mph.

On the outside, the car sports a low, elongated hood. As far as lights, it has slim chrome headlamps, torch-like daytime driving lights, and an optional diamond radiator, reports Economic Times. As a new feature, the car comes with integrated LED daytime running lamps.

Meanwhile, the inside of the car features a voice-activated digital assistant that can be activated by the phrase, "Hey, Mercedes," according to The voice-activated system can control navigation, music, climate, and seat positions inside the car. The center display features touchscreens, including a Mercedes touchpad controller on the center console and steering-wheel controls.

This marks the debut of the A-class on the U.S. market, however, the car had been available to European drivers for a while as a hatchback, which experts said wouldn’t appeal to American drivers.

"We didn’t feel the European version was quite right for the American market," said Exler. "With the sedan, that changes completely."