Key Moments
- Mercedes-Benz CEO Ola Kaellenius reported that China’s overall automotive market has declined by 22% year to date.
- The premium luxury segment in China’s auto market has contracted by 30%, outpacing the broader market downturn.
- Kaellenius said market visibility has deteriorated compared with two decades ago, noting that “this predictability no longer exists.”
Executive Remarks in Berlin
Mercedes-Benz CEO Ola Kaellenius told attendees at an industry conference in Berlin that the downturn in China’s automotive sector has been more severe than management had expected at the start of the year.
Speaking at an event organized by the industry publication Automobilwoche, Kaellenius highlighted growing uncertainty in the company’s largest market. “This predictability no longer exists. It’s not zero, but it’s definitely less than it was 20 years ago,” Kaellenius said.
China Market Under Pressure
Kaellenius cited data indicating that China’s auto market, described as the world’s largest, has fallen by 22% year to date. He also pointed to an even sharper pullback in the high-end segment, where premium luxury vehicles have experienced a 30% decline over the same period.
| Segment | Change year to date |
|---|---|
| Overall China auto market | -22% |
| Premium luxury segment | -30% |
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