Saturday, 29 August 2015

Mercedes defies market condition with 42 per cent rise

Mercedes-Benz defied a Chinese market slowdown for
the second month in a row, posting a 42 per cent surge
in July deliveries even as rival BMW AG warned that
the environment was becoming more difficult.
Autonews reports that Chinese sales by Mercedes rose
to 29,540 cars in July as demand for the C-class sedan
and compact cars jumped, the company said during
the week. That helped push global deliveries up 15 per
cent from a year earlier to 149,753 vehicles, with
seven-month sales also rising 15 per cent to 1.05
million autos, as Mercedes seeks to surpass BMW and
Audi AG as the world’s biggest maker of luxury cars.
Other automakers are posting slower delivery growth in
China this year as the economy cools and a stock-
market drop discourages consumers from making large
purchases. The country’s car market contracted in
June, the first decline in more than two years, and
Chinese delivery gains in July at Toyota Motor Corp.,
Honda Motor Co. and Mercedes contrasted with drops
at General Motors and Hyundai Motor Co.
BMW and Volkswagen AG’s Audi division have yet to
report July sales figures. Of the three German
companies, Daimler AG’s Mercedes was the only one
to report growth in China in June. Concerns about the
country’s auto market prompted Munich-based BMW
earlier this week to say it may not achieve this year’s
profitability goal. Ford Motor Co. has even said there is
potential for industry-wide demand in China to shrink
this year.
Daimler’s global group auto sales, including the Smart
city-car nameplate, rose 16 per cent last month to
159,040 vehicles. Deliveries of the Mercedes C-class
sedan and station wagon jumped 83 per cent last
month, with demand for the models tripling in the Asia-
Pacific region. The brand’s SUV sales rose 15 per cent.

Source: The Punch


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