Mercedes-Benz, the world’s third- biggest maker of luxury cars, will spend about 170 million euros ($230 million) on a new auto plant in Brazil amid expansions by larger competitors Bayerische Motoren Werke AG and Audi AG.
Daimler AG, the world’s third- largest maker of luxury vehicles, said it’s having trouble filling orders as all-time-high August sales put premium-car manufacturers on course for record full-year deliveries.
Daimler AG’s Mercedes-Benz brand, the world’s third-biggest luxury carmaker, produced more vehicles than ever before in the first half to cover demand for its new compact models and sport-utility vehicles.
Daimler AG cut Chief Executive Officer Dieter Zetsche’s pay 5.8 percent amid a reduction in managers’ bonuses as the world’s third-biggest maker of luxury cars fell behind competitors in sales and dropped profit goals.
MAN SE , Europe’s third-biggest truckmaker, said it will raise full-year forecasts next month and Daimler AG , the world’s biggest, said profit will recover because of growth in emerging markets such as Brazil and Russia.
Daimler AG extended Chief Executive Officer Dieter Zetsche’s term and named manufacturing manager Wolfgang Bernhard to run the truck unit in a possible step to the top job at the world’s third-biggest luxury-car maker.