Daimler’s Mercedes-Benz, the third largest luxury carmaker in the world, completely defied the Chinese auto market regression for the second straight month, and came up with deliveries that jumped 42 percent in July.
The feat is even more unimaginable as its larger competitors BMW and Audi had negative sales and issued major warnings on their local and global sales outlook, as well as signaling the difficult environment could impact their profit and earnings margins this year. Mercedes sold in China, the world’s largest auto market and the second globally in terms of premium cars, a total of 29,540 units last month, with the Stuttgart, Germany-based company announcing in a statement the drive was primarily owed to the C-Class sedan and the range of compact cars. Global sales have gone up 15 percent from the same period last year to a total of 149,753 autos and seven-month deliveries have jumped the same level to 1.05 million vehicles – with Mercedes bidding to overcome BMW and Audi as the world’s largest luxury automaker before the next decade begins.
Several other global peers have seen slower growth or even negative sales in China this past few months as the country’s economy rises at the slowest pace in more than two decades and the stock market collapsed recently. The overall Chinese auto market slid in June for the first time in at least two years and positive results last month for Toyota, Honda and Mercedes were in contrast to the plunges at General Motors or Hyundai. Daimler group’s auto sales, including the Smart city car rband, soared 16 percent last month to 159,040 units, with demand jumping 83 percent for the C Class model line and the Mercedes sport utility vehicle range also climbing 15 percent.