Economics of luxury: how we’ll pay more for Mercs
“The entry point to the Mercedes brand in the future will be a different one than today," Källenius said.
He promised limited editions, or"collectibles", such as the Maybach S-Class designed in partnership with designer Virgil Abloh before he died suddenly last year.Later in the evening, Mercedes showed the bankers the new Vision AMG concept, which previews an electric performance saloon to be built on the new AMG-EA electric-car platform from 2025.
“We fundamentally believe this business remains underpriced,” Deutsche Bank wrote in an analyst note ahead of the event. He said, however, that margins for the 300,000 top-end vehicles Mercedes sells annually as “clearly sitting above that”. He was referring to what Deutsche Bank called “basically a hidden Porsche within the group” but selling in even greater volume than those of the famously profitable Volkswagen Group brand, and which is going to be spun off in future.
With Daimler Truck now split off, Mercedes is now a “pure play” luxury brand, Källenius said. However, he said that vans would remain part of the premium focus, which somewhat diluted his claim that Mercedes “is fully focused on being a luxury and tech car company”. The entry MMA, for Mercedes Modular Architecture, is “electric-first” and will be launched with a new EV in 2024, hinted at by a silhouette of a four-door coupé in the presentation. But it will also allow ICE models, likely restricted to hybrids.
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