Mercedes’s $230,000 Maybach Defies China’s Cooling Luxury Market
Mercedes-Benz is selling almost as many Maybach cars in China each month as it used to sell worldwide in a year, when it targeted the super-rich with a stand-alone model.
Chinese buyers are snapping up about 500 a month of the ultra-luxury variant of the Mercedes S-Class, which starts at about 1.44 million yuan ($230,000) in China. That compares to a peak of 600 Maybach cars in 2003, which at the time cost more than $350,000.
“Sales in China are developing very well,” Ola Kaellenius, sales chief for the Daimler AG unit, said on Wednesday.
Daimler revived Maybach as a Mercedes sub-brand this year to chase the wealthiest buyers, people who otherwise might have considered a Rolls-Royce or a Bentley. The Mercedes-Maybach adds legroom and opulent options such as hand-made silver-plated champagne goblets to the standard S-Class.
The effort appears to be working. Mercedes started selling Maybach in China in February as part of a push to catch up with BMW and Audi in the world’s largest auto market, which is suffering a slowdown.