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Daimler cutting Mercedes and Smart prices by 18% in Switzerland

Automakers including Daimler and PSA are now offering substantial discounts in Switzerland to make it more affordable for Swiss customers to buy their cars, according to the latest from Bloomberg. The move, instituted by two of Europe's largest automakers, comes in response to the surprise decision last week by the Swiss National Bank to suddenly abandon its longstanding policy of capping trading of the Swiss Franc to 1.20 francs per euro. The policy has sent the value of the franc soaring, making imports into Switzerland less expensive while increasing the value of its exports. The discounts being offered by the automakers could therefore be viewed more as price adjustments to better match the changing currency value rather than an actual incentive. But whichever way you look at it, a new Mercedes or Smart will now cost Swiss buyers 18 percent less than the list price, while Peugeot and Citroen dealers in the Confoederatio Helvetica are chopping 1,000 francs ($1,144) off the price of a new passenger car or 1,500 francs ($1,716) for a new commercial vehicle. Conversely, high-end Swiss watchmakers like Rolex and Patek Philippe are looking at increasing their prices to keep up with the currency fluctuation, particularly in Japan, where the yen has dropped 17 percent against the franc in the past few days. News Source: BloombergImage Credit: Sandro Campardo/Keystone/AP Mercedes-Benz smart Car Buying Citroen Peugeot switzerland

Daimler CEO says nobody is making money on EVs right now

What do you charge for a vehicle you're going to lose money on? If you're Mercedes-Benz and the vehicle in question is the B-Class Electric Drive, you offer it for lease for just 399 euros ($498) a month with a down payment of 8,473 euros ($10,582). If Daimler was going to price it honestly, it seems, the number would have to be a lot higher. "Nobody today is making a battery-powered vehicle that's economically viable." – Daimler CEO Dieter Zetsche That's according to Daimler CEO Dieter Zetsche, who spoke to reporters in Spain recently and said that, "You can reasonably say that nobody today is making a battery-powered vehicle that's economically viable in its own right. Manufacturers will not see a return within a reasonable time on the billions they're investing now." There are ways to make money in EVs, of course. Just ask Daimler, which recently sold its stake in Tesla for a cool $780 million. Zetsche has some EV-critical company in executives like Fiat Chrysler CEO Sergio Marchionne, who has said his company loses over $10,000 on each Fiat 500E it sells. Other automakers – e.g., Tesla, Nissan – are much more positive about their financial bet on EVs, but no one is opening all their books to the public to prove this. Tesla, which worked with Mercedes on the B-Class ED, will have an earnings call with investors later today, so perhaps we'll learn something new in a few hours. The B-Class ED lease deal is for 36 months, based on an MSRP of 39,151 euros ($48,895) in Europe, including the 19 percent VAT. You can read more in the press release below. Commercial release of Mercedes-Benz B-Class Electric Drive: Local emission-free driving from ˆ399/month Stuttgart, Nov 03, 2014 With its high-torque electric motor, the B-Class Electric Drive delivers lively and superior driving pleasure – with zero local emissions. The B-Class Electric Drive is now available to order, with deliveries set to start before the end of 2014. Prices start at ˆ39,151[1]. The B-Class Electric Drive can be leased through the Mercedes-Benz Bank from ˆ399 a month[2]. Further information on the full range of tailor-made leasing and financing offers as well as specific pricing examples are available at http://www.mercedes-benz-bank.de. Quiet and local emission-free driving is ensured by a 132 kW electric motor, which, as is typical of an electric drive, delivers its maximum torque of 340 Nm right from the start. The result is noticeably powerful acceleration from rest.

Mercedes may be working on a new electric car dubbed 'Ecoluxe'

Automobile has a lengthy piece this month on how the four German mass-market luxury manufacturers each plan to go after Tesla with their own electric vehicles. It was written by Georg Kacher, the magazine's European bureau chief, and the English version came a month after he wrote the German-language original for Autobild. Tesla isn't exactly a threat to the Germans, but, according to the report, the Model S is planting the right kinds of seeds in niches that are important to the luxury players. The thinking is that - in addition to needed electric vehicles anyway for stricter US regulations - it's better to start designing the machinery now. The article posited Porsche's attack would rest on the coming Panamera platform, but a big hurdle would be battery placement. Unable to find one large space for a lithium-ion pack, engineers would instead put batteries everywhere they could, for a supposed tally of some "108 battery pouches" throughout the body. A few days after the Automobile piece, however, Porsche publicly said it had no intention of challenging the Model S, because the enthusiastic driving the brand is known for doesn't jive with useful range. In Kacher's retelling, Mercedes' plans are even more ambitious, supposedly taking aim at the Model S and the coming Model X. It would do this with an investment in excess of $2 billion in a program called "Ecoluxe" – Mercedes has no brand division akin to BMW's i and Audi's e-tron. The new brand would create a four-strong family of bespoke electric vehicles: a smaller platform with a wheelbase around 106 inches and a larger one with a wheelbase around 118 inches. In addition, the range would have "provisions for rear-wheel drive, all-wheel drive, and rear-wheel steering." The numbers are impressive: seating for seven in the larger vehicles, both longer than 16 feet, front and rear storage areas, ratings of up to 610 horsepower and production capacity of 80,000 units per year. When would we see such creatures? Perhaps as soon as 2019. We do know that if Tesla can knock the Model X over the outfield fence, automakers are going to have to do something. We don't know what the chances are that Ecoluxe is Mercedes' first move - but such a plan could help explain the weird Mercedes concept spied in October.