European luxury car markets feel the heat

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BERLIN: Mercedes-Benz Group AG was once a standard-bearer of automotive refinement, but swooning sales and profits underscore how even the lucrative upscale end of the car market is feeling the heat from China.

While Europe once had a lock on the upscale car market, the launch of the Tesla Model S in 2012 challenged that by shifting consumer perceptions of automotive excellence toward digital features.

Nio Inc, known for battery swapping to help ease range anxiety, has opened luxury showrooms in cities including Berlin, Oslo and Amsterdam to showcase models like its €95,000 EL8 sport utility vehicle.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChinaFranceGermanyHungaryPolandUnited Kingdom

Topics: EV Auto BYD Mercedes-Benz Electric vehicle Automotive /Business/Business News

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-29 @ 00:00:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 1156 words

Reading Time: 7 minutes read

Sentences: 43 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 23292224

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Main Topics: EconomyBusiness

Official Website: thestar.com.my

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