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Daimler benefits from corona restrictions in China when it comes to sales


FILE PHOTO: The Daimler logo is seen before the carmaker’s annual shareholder meeting in Berlin, Germany, April 5, 2018. REUTERS/Hannibal Hanschke/File Photo

Munich (Reuters) – According to Daimler, the booming business with luxury cars in China is also being fueled by travel restrictions as a result of the corona pandemic.

Instead of spending their money on foreign trips, Chinese customers are now spending their money on new cars, said Hubertus Troska, the Group board member responsible for business in China, on Friday at a conference call with journalists. “There is a lot of money available here that can also be invested in good products.”

Daimler’s car brand Mercedes-Benz sold 693,000 vehicles in China from January to November than in the same period last year. “The premium market in China is once again developing significantly faster than the general car market this year,” said Troska. “I continue to experience the overall picture as extremely positive.”

Like other manufacturers, Mercedes-Benz is increasingly relying on serving the Chinese market with local production. “We will produce over 600,000 Mercedes-Benz cars locally this year,” said the manager. The group also wants to expand research and development in China. Daimler is not planning a separate unit, but a global division of labor among the development teams.

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