Published: Mon, January 13, 2020
Markets | By Otis Pena

Geely, Mercedes-Benz launch $780 mln joint venture in E China

Geely, Mercedes-Benz launch $780 mln joint venture in E China

Daimler sold 2.34 million Mercedes-Benz passenger cars in 2019 for a ninth consecutive year of record sales, it said on Thursday, putting the German carmaker in pole position to retain the title of biggest-selling premium auto brand. "In addition, Mercedes-Benz continues to be clearly the number one in the luxury market - this proves how valuable our brand is", said Ola Källenius, Chairman of the Board of Management of Daimler AG and Mercedes-Benz AG. Audi meanwhile trailed both of its competitors with 1.85 million automobiles sold. Mercedes-Benz also had a strong festival period, which turned market sentiments towards positive, the company said. Mercedes-Benz will build smart-branded electric cars with Zhejiang Geely Holding Group in the Chinese city of Xian from a base with annual capacity of around 150,000 vehicles, a senior official from its German parent Daimler AG said on Saturday. In Europe, sales are expected to be on par with 2019 due to a "deterioration in the economic environment" and rise slightly in the US The company already gave an indication of its sales and outlook earlier this week.

The BMW Group said it was aiming for a slight increase in 2020 sales, counting on robust Chinese demand. "Together with investments in new technologies and rewarding sales growth, we are paving the way for Mercedes-Benz to direct the worldwide luxury market for a pioneer of renewable luxury also in age of CO2-neutral mobility". Total sales fell 9.9% at 13,786 units (2018 sales: 15,538 units) on a year-on-year basis but the company retains its position as the No. 1 luxury carmaker in India.

Other competitors made strong showings this year, including Volkswagen's premium arm Audi, which saw sales jump 1.8% to 1.84 million cars last year.

Bookmaker William Hill forecasts annual profit above estimates
William Hill's full-year adjusted operating profit for 2019 is expected to be in the range of £143m ($185.4m) to £148m. Prior however, has a 12-month notice period and her departure date will be determined "in due course".

These were the details of the news Mercedes-Benz keeps luxury-car sales crown for this day.

Well, the BMW brand registered 2 168 516 units over the course of 2019, representing a year-on-year increase of 2,0 percent.

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