Mercedes-Benz 2008 China sales soar 45%

Shanghai, January 9 (Gasgoo.com) Mercedes-Benz China Ltd said that sales of Mercedes-Benz brand cars in China soared almost 45 percent in 2008 to 38,700 units though the market was hurt by the economic crisis, the official Shanghai Securities Journal reported Friday.

"Our growth is far ahead of our rivals and the industry average in this market," the CEO of Mercedes-Benz China, Klaus Maier, said, adding the company would further boost market shares by expanding its product lines.

China's luxury car segment was growing at a rate of 17 percent on average in 2008, while the market as a whole was rising by less than 10 percent, Maier said.

The Benz S-Class is the fastest growing car model among its product portfolios with 13,860 units sold in 2008, up 31 percent from a year earlier.

Maier said Mercedes-Benz currently has 106 dealers in China but will add 20 more each year from now on despite the challenge of the global financial crisis.