Skip navigation
Newswire

Daimler Confident in Continued Growth in China

By Norihiko Shirouzu and Jake Spring

BEIJING, Aug 24 (Reuters) - German luxury carmaker Daimler is still targeting minimum sales growth of 10 percent in China this year and to sell significantly more than 300,000 vehicles, the company's China chief Hubertus Troska told reporters in Beijing.

Speaking ahead of an event to celebrate the 10th anniversary of a local manufacturing joint venture, Troska said he was cautious of "short-term disturbances" such the slumping stock market, but longer term the prospects were brighter.

"We are still very confident that we will sell significantly more than 300,000 units a year this year," Troska said referring to sales by Daimler's Mercedes-Benz unit. Mercedes-Benz's sales grew 30 percent in China in 2014.

China stock markets slumped again on Monday, giving up all their gains for the year on a massive selloff that dragged down regional markets, with even some state media saying the government rescue attempts had now failed.

Troska highlighted its lineup of relatively new cars and what he described as growing confidence among its retail dealers which had complained about weaker sales and profitability.

(Editing by David Evans)