Oct. 17 (Bloomberg) -- Daimler AG, the world's second-largest maker of luxury cars, boosted nine-month sales in China 54 percent on demand for Mercedes-Benz S-Class sedans.
The automaker sold 32,375 vehicles in China during the January-September period this year, spokesman Trevor Hale told reporters in Beijing today. The country is one of the biggest markets for S-Class cars worldwide, he added.
Daimler's growth outpaced an 11 percent increase in China's overall car sales, as drivers use rising wages to buy more expensive vehicles. The company will also push ahead with expansion plans in China, even as the economy slows and the global credit crunch makes borrowing more expensive.
"The situation in China is much better than in other parts of the world," said Ulrich Walker, chairman of the Stuttgart-based carmaker's northeast Asia operations. "We will continue with what we have planned, the products as well as the joint venture -- everything."
The plans include forming a truck-making venture with Beiqi Foton Motor Co., China's biggest maker of commercial vehicles. Government approval for the venture is likely to come in the second half of next year, Walker said.
Daimler plans to start producing Mercedes-Benz vans in China through a venture with Fujian Motor Industry Group Co. in the first half of next year, Walker added.
