Mercedes-Benz Malaysia performance briefing: Sales declined, MBSM finance on rise

KUALA LUMPUR: Mercedes-Benz Malaysia announced during its performance briefing that it sold 2,944 vehicles during the first quarter of 2019, which is 12% down compared to the similar period last year. However, despite the decline, it maintained a market share of 2.4% in the Malaysian market.

The brand also reported strong performance by its financing and insurance arm. Called the Mercedes-Benz Services Malaysia (MBSM), it financed every five out of 10 Mercedes-Benz cars sold in the country during the same period and insured every six of its ten cars.

When it comes to financing, Mercedes-Benz Malaysia has more than RM 2.8 billion in its portfolio via its subsidiary. It constitutes a year-to-date growth of 2% and holds around 18,500 of active customers. In the first quarter of 2019, MBSM provided financing of around RM 321 million.

The sales of 2,944 vehicles during Q1 include 108 dream cars, 427 compact cars, 695 SUVs and 1,714 limousines. Moreover, four of the five models launched in this quarter were assembled at Pekan, Pahang. These models include GLC 300 Coupe, E350 AMG Line, E200 Sportsstyle Avantgarde, and the E300 Exclusive.

Speaking on the overall outlook for the luxury automotive sector of 2019, Mark Raine, Sales and Marketing Vice President of Mercedes-Benz Malaysia said, “We have seen a slight sluggishness in 1Q19, but the premium market is holding its strength in general”.

Dr Claus Weidner has not disclosed the target of Mercedes-Benz Malaysia in Q2 of 2019. The brand has high expectations as in Q2 of 2018 it sold 3,453 vehicles. He said, “We are continuing to implement our strategy going forward, and are confident that it will be a successful 2Q19, and a successful year”.