Luxury car maker Mercedes-Benz Group AG (DDAIF.PK , DMLRY.PK), previously Daimler AG, on Thursday hosted a strategy update on the Côte d'Azur or French Riviera. This 'Economics of Desire' event outlined the future of Mercedes-Benz as a dedicated pure-play luxury car company and provided details of its strategic course.
The company said it will focus even further on luxury, elevate its product portfolio, accelerate its path to a fully electric future and target structurally higher profitability.
Mercedes-Benz will recalibrate its product portfolio, allocating more than 75% of its investments to develop products for the most profitable market segments.
Mercedes-Benz aims to grow the sales share of its Top-End vehicles by around 60% by 2026 versus 2019. It intends to achieve higher quality growth and a further significant increase in profitability and resilience. It will also strive for an operating margin target of approximately 14% by mid of the decade in favorable market conditions.
Further, the company's strategic decision to become fully electric by 2030 and the ambition to become CO2-neutral by 2039 are integral elements to enhance the connection between luxury and sustainability.
The increased focus on luxury follows rising customer demand in this segment. In 2021, the Mercedes-Benz S-Class posted an increase of 40%, while Mercedes-AMG and Mercedes-Maybach likewise set new records.
In future, Mercedes-Benz will concentrate on three product categories: Top-End Luxury, Core Luxury and Entry Luxury.
Mercedes-Maybach is expanding its product offering in the Top-End segment, led by the Mercedes-Maybach EQS SUV, which is scheduled for market launch next year. It has also previewed a Mercedes-Maybach SL.
The all-electric G-Class will be the first Mercedes-Benz vehicle to feature advanced battery cell chemistry from Sila Nanotechnologies as an option.
Mercedes-Benz will also expand with limited editions and exclusive collaboration vehicles. The top of the line will be an exclusive edition of the Mercedes-Maybach S-Class, known as the Limited Edition Maybach by Virgil Abloh. Only 150 of these strictly limited edition vehicles will be built.
Mercedes-Benz also announced a new program of ultra-exclusive collector cars, to be known as the "MYTHOS Series" that will be produced in select numbers for the most dedicated enthusiasts and collectors of Mercedes-Benz.
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