China Knowledge reports on findings by Mercedes-Benz that China remains one of the luxury carmaker’s sole global bright spots amid the ongoing economic downturn. Figures from Mercedes show that more than 5,200 Mercedes and Smart cars were sold in China last month, which the automaker attributed mainly to their “broad product line-up” and growing brand appeal in the Mainland market.
As the article points out, luxury carmakers like Mercedes are looking to China to be a rare growth market, and hopefully offset the decrease in demand for their products in traditional markets:
Daimler earlier said it expects a sales boom in luxury cars from China’s RMB 4-trillion economic stimulus package and to outperform the average growth in the country’s luxury car market.China Association of Automobile Manufacturers (CAAM), mainly boosted by government stimulus measures, which include tax-cuts and subsidies for car purchases by rural residents.
The auto maker also said it hopes the country will be a market in which the company can offset losses from other markets.
China’s vehicle sales jumped 34% year on year to hit 1.12 million units in May.
