Mercedes-Benz is undoubtedly the most well-known luxury car brand in the world. It is a brand that many purchasers strive to acquire known for its high quality and innovative engineering. As Tesla has become the aspirational brand for younger consumers, Mercedes-Benz now confronts a new set of issues.
Changes
The automotive industry is evolving. Electric vehicles are being pushed by governments and customers. Firms are racing to develop new modes of mobility, including self-driving automobiles.
Some of these new technologies put Mercedes- Benz’s advantages to the test.
Challenges
Mercedes-Benz said that it will postpone the launch of its EQC electric sport utility vehicle in the US for the time being. SUVs are the most popular vehicle in the United States, but the corporation has pushed back the delivery date from the first quarter of 2020 to the first quarter of 2021.
Reasons
According to some analysts, electric upstarts like Tesla and Chinese producers like Li Auto pose a threat to the German luxury brand and its established contemporaries, such as BMW and Audi, in the burgeoning and vitally crucial Chinese market. Historically, the three large German brands held 60% of the luxury market in China, but as Tesla continues to establish more stores this percentage is shrinking.
Other types of electric vehicles will be plentiful in the United States. More than a half-dozen automakers have launched electric pickup trucks. Mercedes-Benz benefits from its tradition, prestige, talent, and extensive expertise. However, the automobile business is undergoing significant changes, and the company should stay up with them.
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