How The Recession Made Mercedes Cars Better [Headlines]
The luxury carmaker Mercedes launches five new models despite the lagging economy.
- 20 july 2011
“The recession has been good for us,” says Steve Cannon, Mercedes-Benz’s vice president of marketing, only half kidding. While this quintessential luxury brand faced a more challenging environment, Mercedes still managed to emerge from the recession with renewed momentum, launching five new models and building share of market, as it is looking to its 14th consecutive year of sales growth in 2011.
Cannon, a West Point graduate and a former Army Ranger, points out that the recession “made our business better” because it forces Mercedes to take a hard look at every facet of their operations. So coming out of the economic slowdown, or, as he terms it, ”Going through that crucible of fire”, the company became stronger and better. Avi Dan/The Insider, Forbes.