Mercedes-Benz brags that it gives the world the first production automobile. However, it has been an innovator and relentless pursuer of quality as well as engineering excellence.
Most of the consumers own a Mercedes-Benz which is a sign that finally made it in life. However, it is considered as one of the most aspirational brands among the larger automakers as per the report by industry survey firm AutoPacific.
On the other hand, the automotive world is changing. Governments and a few consumers are now pushing the electric vehicles and companies are now racing for developing new forms of transportations that involve cars that can drive themselves.
Additionally, these technologies like electric power trains, challenge Mercedes Benz’s traditional strengths. One of the things that the three-pointed star was well-known for its superior engine technology.
Mercedes-Benz mentioned that some industry’s watchers have become a bit slower than some for adapting to the electrification challenge. Mercedes-Benz mentioned in early 2021 that it has planned to delay the introduction of its EQC electric sport utility vehicle in the United States for the foreseeable future. However, the SUVs are the most popular light vehicle in the American market currently. The company also mentioned that it is still planning to release its electric sedan.
This German luxury brand and its traditional peers like Audi and BMW also faced challenges while growing and highly important the Chinese market from electric upstarts like Tesla and the Chinese marketers like Li Auto, as per some of the analysts.
Factually, the three bigger German brands keep control of around 60% of the luxury market in China. However, the shares are now eroding as Tesla continues to open new stores in China, as per the report from Piper Sandler.
Heritage, prestige, talent, and lots of experience are in favor of Mercedes-Benz. Well, this big automotive industry is making some bigger pivot.