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A number of new Mercedes car parts for compact vehicles could soon be on the market as the manufacturer looks to expand the range of smaller cars it offers.

As part of its growth strategy to 2020, the German carmaker revealed that it plans to unveil a brand new four-door coupe in 2013, made at its new Hungarian plant.

The company will roll out a further three new compact models by 2015 on top of its already available A and B series vehicles, Reuters reports.

Meanwhile, with fuel consumption and environmental concerns becoming increasingly important to motorists, Mercedes also plans to take steps to make its models more efficient.

It claims that it will be able to reduce the average CO2 emissions of its cars sold in the EU from their current level of 150g/km to 125 g/km by the year 2016.

"We are convinced that 'cool' and 'green' can peacefully coexist in our garages," commented Dr Dieter Zetsche, head of Mercedes-Benz Cars.