KUALA LUMPUR (July 8): Mercedes-Benz Malaysia Sdn Bhd, a joint venture unit between Daimler AG and Cycle & Carriage Bintang Bhd, recorded a 53% growth in vehicle sales in the first half of 2015 (1H15), from a year earlier.
Mercedes-Benz Malaysia president and CEO Roland Folger said the group sold 5,163 cars in 1H15, as compared to 3,366 units previously.
Speaking to reporters at Mercedes-Benz Malaysia's 1H15 performance briefing today, Folger said "the success we have experienced in a short six months speaks for itself. The market loves our new models, and we thank our customers for their support, which is a testament and validation of our continued success into the business we have in Malaysia."
"As we further strengthen our network, our focus remains in providing the best, be it in the quality of our vehicles or customer service. With the implementation of double shift at the Pekan production plant, we are able to fulfil orders in a shorter time, and with a strong nationwide dealer network, customers can be assured of the best after-sales experience," he said.
Locally-produced Mercedes C-Class, E-Class, and S-Class models showed the most growth, with sales increasing by 62%, according him.
Meanwhile, Mercedes-Benz Malaysia vice president for sales and marketing Mark Raine said another key contributor to the successful sales figures was its compact cars, which registered a 32% growth.
"The compact cars have really led to the successful rejuvenation of the Mercedes-Benz brand in Malaysia," Raine said.
According to Mercedes-Benz Malaysia's website, the company is a joint venture between Cycle & Carriage Bintang (fundamental: 1.7; valuation: 1.1) and Daimler AG.
Cycle & Carriage Bintang's shares fell four sen or 2% at 12:30pm to settle at RM2.46, for a market capitalisation of RM247.8 million.
The stock saw 5,500 shares done.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)