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Zetsche's CEO tenure extended through 2016 at Daimler

There appear to be two takes on Daimler CEO Dieter Zetsche having his contract extended for three more years, to 2016. A report in The Detroit News quotes the chairman of Daimler's supervisory board, Manfred Bischoff, talking up the stability at the top, "With today's extensions of the contracts of Dieter Zetsche and Thomas Weber, we are maintaining the important continuity at the top executive level." Bischoff also stated that that Zetsche has a plan to "further enhance Daimler's overall performance."
Over at Reuters, though, the three-year extension was seen as a lack of complete confidence in Zetsche's plans, since his contract was supposedly meant to be extended by five years. A spokesman said the board decided to extend executive contracts by only three years if the person was 60 or would turn 60 during the contract, but that was news to observers. Zetsche wants to make Mercedes-Benz the top selling luxury manufacturer globally by 2020, but has fallen to third place behind Audi and BMW. It hasn't held the top spot 2005, and investors judged it valued at half that of BMW at the end of 2012 once Daimler's truck business was subtracted.
Analysts cites the fact that Daimler stock hasn't bested its rivals but twice in twelve years, and that the company revised its profit target downward last year by nearly one billion euros, warning of stagnant earnings this year and will miss its original margin target for 2013.

Genesis cars win accolades, offer value — so why are sales so bad?

My high-school buddy Brent Cormier was so smitten with the Genesis G80 when he saw it at an event I hosted at SXSW in 2016 he bought a used 2013 Hyundai Genesis a short time later and fell in love with the car. "It surpasses my every expectation," said Cormier, a self-described "renaissance man" who owns and runs a real estate agency with his wife Laura, is a food service executive chef and part owner of Austin-based Thin the Herd Guitars. "I was locked into Mercedes and Audi for 10 years," he added. "And felt trapped in an endless pit of maintenance costs." After owning the Genesis over the past two years — including using it as an Uber and Lyft driver to earn extra cash — Cormier learned what some frugal luxury sedan buyers and a handful of car reviewers have discovered: Genesis offers great bang for the buck compared to other premium brands and can compete with the best in terms of performance, features and comfort. Hyundai's luxury brand also earned a prominent third-party endorsement last week when for the first time Genesis topped J.D. Power's 2018 APEAL study, surpassing German luxury-performance icon Porsche. The APEAL study (which stands for Automotive Performance, Execution and Layout) "measures owners' emotional attachment and level of excitement across 77 attributes," ranging from performance to comfort, and asks nearly 68,000 owners of new 2018 models to score vehicles on a 1,000-point scale. In its second year ranked as a stand-alone brand, Genesis earned an APEAL score that bumped it up 15 points to 884 and helped push it past Porsche — and past BMW, Lincoln, Mercedes-Benz, Audi, Volvo, Cadillac, Land Rover and Lexus, in order of ranking. Last month, Genesis also topped J.D. Power's Initial Quality Survey (IQS) for the first time this year. And both its models were awarded Top Safety Pick Plus ratings by the Insurance Institute for Highway Safety, among 11 Plus ratings in all for Korean vehicles. Despite high J.D. Power rankings and great reviews, Genesis U.S. sales were off 50 percent for the first six months of 2018 compared to 2017, and in June Genesis sold only 796 vehicles — the first time U.S. numbers dropped below 1,000 in a month. Part of Genesis's APEAL and IQS success can be attributed to its small product lineup: just two models, the G80 and G90 sedans, with a third, the 2019 G70, launching later this year. And while those numbers may help in J.D.

2016 Mercedes-Maybach S600 First Drive

Imagine the audacity: during the salad days of the early 2000s, the company that invented the automobile – already synonymous with class-leading luxury – sought to further expand its portfolio by crashing the ultraluxury party. Going up against the likes of Rolls-Royce and Bentley, Mercedes-Benz traded its unmistakable Three-Pointed Star for a Mighty Mouse-like logo, exhuming a stately, long-dead German marque originally founded in 1909. The long-wheelbase Maybach 62 listed at an epic $360,000, while later spinoffs included curiosities like the nearly $700,000 Zeppelin, and a roofless, seven-figure limousine dubbed Laundaulet. By the time the financial bubble finally burst in 2008, the brand's fate was all but sealed, with US sales dropping into the double digits. It limped along another four years, but when the nameplate finally went kerplunk, it left behind it a trail of disappointed movers, shakers, moguls and rappers. The perfect postmodern metaphor for the brand's funeral pyre? Kanye West and Jay-Z's Otis music video, in which a perfectly fine Maybach is chopped and deconstructed, flames spewing out the tailpipes as it powerslides through an empty parking lot. Meet The (Sorta) New Boss Rising from the ashes of hubris is the 2016 Mercedes-Maybach S600, a recalibrated stab at high-end luxury with a startlingly similar, yet different, approach to its forbear. Like the last go, the new sled features a significantly longer wheelbase, which stretches 8.1 inches over the standard S600. Additional sound damping helps it claim the quietest rear cabin in all of production automobiledom, and posher trim bits include a rim of wood surrounding the reclining rear seats. Among the livery-focused special features is a rearview mirror-mounted microphone to amplify the driver's voice, an available rear fridge, and an executive seat package with folding tray tables. The super high-end hallmarks are there – a twin-turbo V12 dispatching sub-5 second 0 to 60 times, a stunning 24 speaker Burmester sound system, double-M branded silver plate champagne flutes, et al. – but the hyperinflated price tag is not. Starting at $189,350, roughly half the cost of the old flagship, the new Maybach isn't even the most expensive Mercedes-Benz you can buy. That distinction goes to the S65 AMG Coupe, which empties your coffers to the tune of $230,900.