Mercedes-Benz owner feels confident it will deliver 300,000 units this year.
A Mercedes-Benz pulls up in Shanghai Image: Tom Mascardo |
Like many of its German rivals, Daimler AG is counting heavily on China sales to provide growth in its fuel car segment this year and the firm pledged to keep investing in the region.
Country head, Hubertus Troska, claimed he felt confident the carmaker would meet its target of delivering 300,000 units this year, irrespective of the stockmarket rout.
Stocks slipped again as the Shanghai Composite Index fell to its lowest point since 2008, prompting many investors to draw comparisons between with the Asian stock market crash in 1997.
On Monday 24th August the stock market dropped more than 8.5%, leading some journals to dub it China's Black Monday.
In spite of the gloom, Troska is doubling Mercedes' investment in compact cars and expects vehicle ownership to continue to rise, even as July has seen the fewest passenger cars sold in almost two years.
Sales of Mercedes-Benz brand cars rose to almost 150,000 units in the first seven months, far outstripping rivals Audi and BMW, who have seen sales slide in 2015.