InfoAnda - Mercedes-Benz sees China sales up 15 pct in 2010

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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Mercedes-Benz sees China sales up 15 pct in 2010 AP - 2 hours 15 minutes ago Send IM Story Print BEIJING – German auto maker Daimler AG said Monday it expects sales of its Mercedes-Benz vehicles to rise more than 15 percent by volume in China next year, as the country's luxury car market expands. "The year 2009 was the most successful year for us, Daimler, in the region," Ulrich Walker, chairman and CEO of Daimler Northeast Asia, told reporters. Walker expects Mercedes-Benz's sales in China to grow faster in 2010 than the overall market, which it predicts will expand 15 percent to 20 percent thanks to fast growth in inland regions beyond the traditional strongholds along the relatively affluent eastern coastal areas. "There's such a huge potential in these cities. For us this is a signal for future growth in selling luxury and premium cars," Walker said. Mercedes-Benz forecasts that it will sell more than 65,000 cars in China this year, its best year ever, Walker said. Daimler earlier reported it sold 8,500 vehicles in November, a 224 percent increase over the year before. Daimler tripled capacity in its local factories to produce more than 18,000 cars by the end of the year. Walker said the vehicles made at its China plants are good enough to export, but the company is still focusing on meeting huge local demand and has no plans yet for overseas sales. China has overtaken the U.S. as the world's biggest market for automobiles in 2009 thanks to the government stimulus policies, with passenger car sales totaling 9.23 million in the first 11 months of the year, up 50 percent over last year. The government recently extended to next year tax cuts and subsidies that mainly have supported sales of vehicles in the populous countryside. Daimler's Mercedes-Benz is the third biggest foreign luxury car seller in China by sales, after BMW and Audi. __ Associated Press researcher Bonnie Cao contributed to this report. ___ On the Net: Daimler AG : http://www.daimler.com Mercedes Benz China: http://www.mercedes-benz.com.cn Recommend Send IM Story Print Related Articles China blocks Sun TV signal in content crackdown Reuters - 1 hour 8 minutes ago Turkish lira opens slightly weaker after DTP ruling Reuters - 1 hour 11 minutes ago JGB futures dip as Dubai news hits yen, helps stocks Reuters - 1 hour 17 minutes ago Confidence grows at Japanese manufacturers AP - 1 hour 19 minutes ago Reliance Comm puts telecom units up for sale -sources Reuters - 1 hour 21 minutes ago News Search Top Stories Dubai to pay debt with $10 billion aid from Abu Dhabi Fed likely to dampen speculation on early exit Greece waits for its financial medicine Nanomaterial used in cancer tests, medicine delivery Decades-old dioxins pollute river, divide US community More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » Most Popular Most Viewed Most Recommended Top British banker admits 'mistakes' on bonuses Tiger Woods' girlfriend apologizes in TV interview 'Whack A Banker' game proving a hit in Britain Dubai stocks maintain profits after break Fed likely to dampen speculation on early exit More Most Viewed » Global stocks mixed amid Dubai debt crisis Tiny magnetic discs could kill cancer cells: study Virgin unveils spaceship to offer space tourism Tiger Woods' girlfriend apologizes in TV interview Dubai blackout over debt plans to hit Gulf markets More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2009 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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