Daimler's (ETR:DAI) Businesses Continue to Grow in China

Daimler's (ETR:DAI) regional headquarters, Daimler Northeast Asia (DNEA) is managing record passenger car sales and vehicle financing, while continuing to expand joint venture activities.

"As the economy and middle class in China continue to expand, more consumers have been able to realize their desire to drive a Mercedes-Benz," said Ulrich Walker, Chairman and CEO of Daimler Northeast Asia. "We've posted record sales for the first half of 2009 and just launched the all-new E-Class which already has 6000 pre-orders. Consumers throughout China can now finance a car or truck, and our joint venture in Beijing is building and selling a record number of vehicles. We will continue to do our best to expand our businesses as the economy continues to grow."

DNEA's businesses include Mercedes-Benz (China) Ltd, passenger car sales, Mercedes-Benz Van and Truck sales, Mercedes-Benz Auto Finance Ltd, BeijingBenz-DaimlerChrysler (BBDC), Fujian Daimler Automotive (FJDA), as well as sales operations in Hong Kong, Korea and Taiwan.

Mercedes-Benz (China) Ltd (MBCL) on July 21 launched the all-new E-Class sedan in China. MBCL continues to expand the portfolio of Mercedes-Benz passenger cars available in China. With the recent introductions of the B-Class, GLK-Class and smart fortwo vehicles in China, Mercedes-Benz offers 16 classes and 40 models of vehicles. The S 400 HYBRID will be introduced later this year.

In China, Mercedes-Benz Cars sold 28,200 locally produced and imported vehicles for the first half of 2009, an increase of 40% from the same time in 2008. The second half of 2009 is expected to see continued strong momentum.

BeijingBenz-DaimlerChrysler, the 50:50 joint venture in Beijing with Beijing Automotive Industrial Holding Company (BAIC) has produced a record number of C-Class sedans, which has helped drive sales significantly. BBDC will produce a version of the all new E-Class exclusively for the Chinese market starting in mid-2010.

While the Chinese economy continues to grow, more consumers are increasingly managing their liquidity so that financing a vehicle purchase has become more and more popular. Mercedes-Benz Auto Finance Ltd has expanded its coverage to approximately 100 markets in Mainland China, and continues to offer attractive financing for vehicles throughout China. Finance penetration is as high as 30% in some markets, with a national average of more than 10%. Since the beginning of 2008 its financing sales volume has doubled to a portfolio of Euro 420 million.

About Daimler AG

Daimler AG, (ETR:DAI) Stuttgart, with its businesses Mercedes-Benz Cars, Daimler Trucks, Daimler Financial Services, Mercedes-Benz Vans and Daimler Buses, is a globally leading producer of premium passenger cars and the global market leader of heavy- and medium-duty trucks as well as buses. The Daimler Financial Services division has a broad offering of financial services, including vehicle financing, leasing, insurance and fleet management. Daimler sells its products in nearly all the countries of the world and has production facilities on five continents. The company's founders, Gottlieb Daimler and Carl Benz, continued to make automotive history following their invention of the automobile in 1886. As an automotive pioneer, Daimler and its employees willingly accept an obligation to act responsibly towards society and the environment and to shape the future of safe and sustainable mobility with groundbreaking technologies and high-quality products. The current brand portfolio includes the world's most valuable automobile brand, Mercedes-Benz, as well as smart, AMG, Maybach, Freightliner, Western Star, Mitsubishi Fuso, Setra, Orion and Thomas Built Buses. The company is listed on the stock exchanges in Frankfurt, New York and Stuttgart (stock exchange abbreviation DAI). In 2008, the Group sold 2.1 million vehicles and employed a workforce of over 270,000 people; revenue totaled EUR95.9 billion and EBIT amounted to EUR2.7 billion. Daimler is an automotive Group with a commitment to excellence, and aims to achieve sustainable growth and industry-leading profitability.

 

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