The German automaker, the parent company of the Mercedes-Benz brand, the third largest in the premium segment in the world, has opted to keep its regional China boss in the position another five years.
Hubertus Troska, 54, will stay with the company until at least through 2020, according to a recent statement, as the automaker races to catch up to its German rivals in China – the world’s largest single auto market – and in the global rankings. Troska “is successfully promoting our business activities in China,” according to joint comments of Supervisory Board Chairman Manfred Bischoff and CEO Dieter Zetsche. “Daimler is building up its position sustainably in the world’s largest growth market,” thanks to Troska’s “dedication and expertise.” He is task with oversight of both Mercedes-Benz’s car and truck business in China. While the Chinese market has been forecasted to slowdown as it matures and the economy begins to wind down from double-digit growth over the past two decades, Daimler wants to close in on its two larger rivals in the country in order to finally recapture the lost global luxury sales leadership position until the current decade ends.
Troska started to lead the company’s local business back in 2012 when the automaker began an offensive that would see now China overtake the United States as the brand’s largest single market. Last year the expansion efforts paid off and the company lifted sales by 29 percent and allowed China to jump past Germany when total deliveries were considered. Now Mercedes has targeted a 10 percent delivery rise for 2015 to at least 300,000 units after finishing 2014 with under 282,000 units sold.
Via Automotive News Europe