Daimler AG, the world’s third-largest maker of luxury vehicles, said it’s having trouble filling orders as all-time-high August sales put premium-car manufacturers on course for record full-year deliveries.
“We have a luxury problem,” Chief Executive Officer Dieter Zetsche said Tuesday at an International Motor Show press briefing in Frankfurt. “We have a shortage of capacity and cannot fully satisfy global demand.”
New models at Daimler’s main Mercedes-Benz brand and larger competitors Bayerische Motoren Werke AG and Audi AG are propelling delivery gains at the German luxury-vehicle producers, in contrast to declines at European mass-market carmakers amid a recession. Industry sales in the region, which are at a two-decade low, have “bottomed out, and there can be some improvement for the rest of the year,” Zetsche said.Read Article