If anyone has any doubts about the sustainability of EM countries’ love affair with luxury cars, the latest sales figures from Mercedes-Benz should put their minds to rest.
In spite of fears that creeping interest rates in countries such as China and India could put a damper on consumption growth, sales of Mercedes Benz – whose prices range from $38,000 for a basic C class sedan and over $200,000 for the S class model – have continued to boom.
Sales in China and Hong Kong rose by 43 per cent to 16,401 units for the month of May – a new record high. For the five months to May, the company sold 75,896 units – a staggering 62 per cent increase from the same period the year before.
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