Maybach, meanwhile, is associated with haute couture, or “haute voiture”.
“We don’t do car shows, but just exclusive fashion shows where designers carry a box of clothes to parade,” says Wagener.
He has promised limited editions, or “collectibles,” such as the Maybach S-Class designed in collaboration with designer Virgil Abloh before his sudden death last year.
Wagener also talked about a new Maybach without going into details.
Late in the evening, Mercedes presented bankers with the new Vision AMG concept, foreshadowing an electric performance saloon that will be built on the new AMG-EA electric vehicle platform from 2025.
Mercedes is currently the 5th most valuable car company based on market capitalization, behind Tesla, Toyota, BYD and Volkswagen and ahead of BMW.
The Mercedes board wants a valuation higher than the current $72 billion, and some more optimistic analysts have questioned why it is so low.
“Fundamentally, we believe this business remains undervalued,” Deutsche Bank wrote in an analyst note ahead of the event.
One analyst at the event wondered why Mercedes couldn’t be more ambitious with a profit margin target of 14% if it really considers itself a luxury brand, given the profit margins of those companies. Mothers like Louis Vuitton LVMH are in their 20s.
However, Mercedes has sounded the alarm. “There is something called the EV transition yet to come, where we have to be realistic in the cost equation,” said finance boss Harald Wilhelm.
However, he said that the profit margin for the 300,000 top-end cars Mercedes sells annually is “clearly higher than that”. He was referring to what Deutsche Bank called “essentially a Porsche hidden within the group” but sold in larger volumes than the products of the famous Volkswagen Group brand were profitable and would be sold. separate in the future.