There is no question that the auto industry as a whole has been effected by the recent economic downturn, but the world’s luxury automakers seemed to have sidestepped the downturn better than most of the ‘common’ brands. But Wall Street’s collapse is now spreading to even the premium brands, which has at least once Mercedes exec sweating beneath the collar.
Speaking at an event in Germany, Mercedes COO Rainer Schmueckle warned that the brand was in the midst of a “full-blown sales crisis.” Schmueckle continued by saying personnel cuts could be necessary if the weak market continued for a significant amount of time.
Mercedes-Benz sales dipped by 3 percent in September, but tumbled by nearly 16 percent in August, according to Automotive News. Sales of Mercedes’ most profitable model – the S-Class – are also down this year.
Those declines forced Mercedes-Benz to cut back its 2008 earning expectation back in July, and the German automaker is expected to further reduce its earnings forecast when third-quarter results are released this Thursday.
Mercedes-Benz employs about 98,000 workers world-wide, a figure that could decline along with the brand’s sales in 2009.
10/20, 6:23 PM
posted by:
Get Real
BMW is also shaking in fear. Audi is passed out on the floor.
10/20, 7:07 PM
posted by:
A4
audis sales actually increased in europe
10/20, 7:42 PM
posted by:
Impulsive
You ain’t seen nuthin’ yet.
10/20, 7:59 PM
posted by:
johnnycanuck
Give me a minute here… I’m trying to find some time in my busy schedule to feel sorry for them.
10/20, 8:08 PM
posted by:
Madcapp
A key factor is that Mercedes Benz is grotesquely overpriced, then after that…they have too much product and have lost focus.
10/20, 8:35 PM
posted by:
autonut
Schtup them with very long schtuping tool for what they’ve done to Chrysler. They deserve Taliban type execution.
10/20, 8:40 PM
posted by:
LS7
European sales don’t mean jack ****. Key markets: 1. USA 2. China
F.uck Europe. It’s a joke.
10/20, 8:44 PM
posted by:
nickkop
rofl @ autonut
10/20, 10:12 PM
posted by:
DeansterTJ
Just in time for my ascent to power.
I’m trolling for a new Benz E550 (the 2009) – maybe we’ll see a price cut.
10/20, 10:24 PM
posted by:
johnnycanuck
Deanster, you’re a power hungry, capitalist man-whore looking only to hold your ilbegotten trinkets just far enough from society’s trolls that they only have the ability to loathe you from a distance. I respect that in a person.
10/21, 2:26 AM
posted by:
Veda
When I see MB the image that comes to my mind is “behemoth”. All of their cars have lower EPA’s than their rivals and it’s not surprising given how heavy they are. The funny thing is they’re supposed to be luxury, not even sport. Infiniti also has lower mileage compared to Lexus or Acura but at least they make up with the high HP. So when crap hits the fan, MB takes the hit.
10/21, 4:21 AM
posted by:
TomF
The MB lineup is overpriced, over-engineered, and there’s too many different models. For every desirable car like the E-Class, there’s something out-and-out ridiculous like the R. Plus, they’re racking up the worst build quality in the history of the marque. They’re incredibly vulnerable in a down market. Perhaps this will force them to be responsive to their customers.
10/21, 10:50 AM
posted by:
savedsol
“which has at least ONCE Mercedes exec sweating beneath the collar.”
ONCE? You guys have the worst editors of any site. Every article has glaring errors in spelling and grammar. You know how to contact me if you’d like some reader respect.