DaimlerChrysler Maybach making money
Tue Mar 22, 2005 2:48 PM GMT
FRANKFURT (Reuters) - DaimlerChrysler is making a profit on its Maybach
luxury limousine business just three years after relaunching the brand,
Mercedes Car Group division chief Eckhard Cordes says.
"We already make money on it," he was quoted as saying in an invterview
with weekly newspaper Die Zeit released on Tuesday ahead of publication
on Wednesday. He was responding to a question on whether he hoped to
turn a profit on Maybach at some stage.
DaimlerChrysler said in January that it delivered around 500 Maybachs
to customers in 2004 despite an economic environment "that was
challenging for the entire luxury car sector". Maybach cars cost more
than $300,000 (158,000 pounds).
It said the Maybach brand accounted for more than one-third of all
sales worldwide in this segment.
Cordes, who took over at Mercedes Car Group in October, has repeatedly
played down his predecessor's forecast that Maybach could generate
annual sales of 1,000 units.
"Five hundred cars (sold) is an outstanding annual result. The entire
market segment is smaller than forecast," he told Die Zeit.
"Over the past two years our sales are equal to the century-old
Rolls-Royce brand even though we reintroduced Maybach only three years
ago. I view that as a success."
Rolls-Royce, owned by rival German car maker BMW, sold 792 of its
Phantom model last year, also short of its 1,000-car target.