The chief executive of German carmaker Daimler said Wednesday that the company has more work ahead as its flagship brand Mercedes-Benz battles to overtake luxury rivals BMW and Audi.
Dieter Zetsche told about 6,000 shareholders that, “Our company is on the way to its best form, but is not there yet.”
Mercedes-Benz reached a record high in the first quarter of the year, with sales up until March rising by 12 percent—to more than 340,000—compared to the same period last year. The rise reflected a strong demand for the company’s C-Class models, as well as its S-Class and SUV models. Truck and van sales also jumped 20 percent in the first sales quarter.
However, in the race to become the world’s leading luxury car brand, Mercedes-Benz is still behind BMW and Audi. Luxury car brands have enjoyed strong sales due to the luxury car boom in China and the United States—the world’s two biggest car markets.
Audi said first quarter sales in China and Hong Kong surged by 40 percent to hit a record 90,063 compared to the same period last year, and BMW saw its total global sales hit a record of more than 400,000 between January and March.
Source: Monsters and Critics
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