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X1, 3 Series power BMW back into global luxury autos sales lead

BMW managed to eke ahead of Audi for the global luxury sales crown in February. According to Bloomberg, BMW saw deliveries swell by 7 percent in February, besting the 3.2 percent jump enjoyed by Audi and giving BMW a 407-unit delivery lead over its rival last month. Mercedes-Benz, meanwhile, continued to falter, with the brand selling some 37,229 fewer machines than BMW, whose factories are running at full capacity to keep up with demand. Models like the X1 (shown above) enjoyed a sales increase of 40 percent in February while the company's bread-and-butter 3 Series jumped by 26 percent.
Mercedes-Benz hopes to stem its continued market share loss with the addition of the entry-level CLA sedan to its portfolio in April. The company is set to roll out an updated version of its cash-cow E-Class at the same time, and a new-generation S-Class will follow along shortly thereafter. Meanwhile, the company is increasing production to meet demand for its A and B-Class models.

Daimler rebuffs Geely offer to buy stake

HONG KONG/BEIJING - Daimler AG has turned down an offer from China's Geely to take a stake of up to 5 percent via a discounted share placement, as the German automaker has long been reluctant to see existing shareholdings diluted, sources with knowledge of the talks said. A stake of that size would be worth $4.5 billion at current market prices. Although Daimler declined the offer, it told Geely it was welcome to buy shares in the open market, the sources added. Carmakers in China have embarked on a flurry of dealmaking, as they scramble to boost production of electric and plug-in hybrid vehicles ahead of tough new quotas to be imposed by Beijing, which wants to reduce urban smog and lower the country's reliance on oil. People with knowledge of Geely's thinking said the company was keen to access Daimler's electric car battery technology and wanted to establish an electric car joint venture in Wuhan, the capital of Hubei province. Geely, which also owns Swedish car maker Volvo, is still hopeful it can secure a deal in some form over the coming weeks, they added. The two automakers met in Beijing in recent weeks at Geely's behest. There, the Chinese firm, formally known as Zhejiang Geely Holding Group, offered to take a stake of between 3 percent and 5 percent if Daimler would issue new shares at a discount, the sources said. It was not immediately clear what kind of discount for the shares Geely had in mind or whether Geely was interested in buying the shares on the open market. A spokesman for Geely declined to comment. A spokesman for Daimler said the company was "very happy with our shareholder structure at present", but added that it would welcome new investors with a long-term interest in the company. Shares in Daimler were up 1 percent in early Wednesday trade, in line with the broader market.DAIMLER ALREADY TIED TO BAIC, BYD Geely, which has a market value of some $32 billion, is the leading domestic brand in China with a 5 percent market share, according to an analysis by Nomura Securities. A stake of 5 percent would establish it as Daimler's third-largest shareholder behind the Kuwait Investment Authority and BlackRock, who hold 6.8 percent and 6 percent respectively, according to Reuters data.

Sales start for $146,000 Mercedes-Benz S500 Plug In Hybrid

Mercedes-Benz's first production plug-in hybrid is chock full of astounding numbers, including the price tag. The base price is 108,944.50 euros, or about $146,000 US. If that didn't make your eyes glaze over, the Daimler division is ready to take your down payments now that the Mercedes-Benz S500 Plug-in Hybrid is officially on sale. Deliveries to European dealerships start in September. Details on the PHEV sedan were divulged last August and it was first shown off at last year's Frankfurt Motor Show. Benz calls it the, "first luxury saloon with the performance of a V8 and the fuel consumption of a compact model." That's no exaggeration. The car's powertrain that pairs a 3.0-liter V6 twin-turbo with an electric motor that delivers 436 horsepower and a 0-62 mile per hour acceleration time of just 5.2 seconds. Top speed is 155 miles an hour. On the green side, the car can go as far as almost 21 miles on electric power alone and gets a fuel-efficiency rating, on the more lenient European driving cycle, of 84 miles per gallon equivalent. The car also includes a so-called COMAND navigation system that tweaks how the electric motor is used based on the driver's desired route. Very high-tech. We've got Mercedes-Benz's press release below. Sales release for S 500 PLUG-IN HYBRID: First PLUG-IN HYBRID with a star starts With immediate effect the Mercedes-Benz S 500 PLUG-IN HYBRID can be ordered for prices from 108,944.50 euros[1]. The S 500 PLUG-IN HYBRID blends an ultramodern hybrid drive configuration with the unique innovations and the luxurious equipment and appointments of the S-Class. The luxury saloon with a long wheelbase impresses with unique dynamism and efficiency. Thanks to standard pre-entry climate control it also offers unique climate comfort. In September the first certified three-litre luxury saloon in the world will be arriving at the dealers - a further milestone on the road to emission-free mobility. "The new S 500 PLUG-IN HYBRID offers our customers the entire range of innovations that make our new S-Class so successful, and thanks to its intelligent operating strategy ensures outstanding driving pleasure and dynamism combined with the highest efficiency. Moreover, it allows completely emission-free driving for up to 33 km," says Ola Kallenius, Executive Vice-President for Sales at Mercedes-Benz Cars. "The S 500 PLUG-IN HYBRID is the first luxury saloon with the performance of a V8 and the fuel consumption of a compact model.