Daimler expects slower sales growth for its Mercedes cars in China this year after a 2015 surge in demand that helped the German carmaker post record sales and earnings.
ADVERTISEMENTDaimler says it expects slower sales growth for its Mercedes cars in China this year.
That follows a surge in demand which helped the German carmaker to record sales and earnings.
The country was its biggest market with sales up 41 percent in China last year. It gained from taking the brand further upmarket and starting to build C-Class and GLA compact cars in Beijing.
Chief Executive Dieter Zetsche said it would be wrong to classify the company’s China outlook as disappointing.
“We look positively into the year in China. The market forecast is for eight percent growth and we believe we can achieve market share gains,” he said.
However the subdued outlook pushed down the company’s share price, it finished the session 3.22 percent lower.
Overall Daimler’s full-year revenue rose 15 percent to almost 150 billion euros.
Net profit was up 22 percent year-on-year.
