Daimler to bring Smart to China in Q2, 2009

SHANGHAI - September 10,2008:

Daimler AG plans to bring the Smart Fortwo micro car to China by the first half of next year, a Beijing based newspaper reported today, citing president Of Mercedes-Benz China.

According to Beijing Youth Daily, Klaus Maier told reporters that Daimler has decided to launch the car in China in the second quarter of 2009 to meet rising demand of fashion-conscious Chinese consumers.

In China, too, young people want an agile, trendy vehicle for their flexible urban lifestyles in order to set themselves apart from others, Maier said, adding that the company is awaiting approval from China's vehicle regulator to sell the car.

Separately, Daimler CEO Dieter Zetsche announced last weekend that the Smart small-car brand will achieve its profit goal in 2008 after years of losses. He made the comment during a presentation at the Smart plant in Hambach, France, to mark the 10th anniversary of the brand.

Smart, a division of Daimler AG's Mercedes-Benz brand, has a base price of $11,590 for the Fortwo Pure, while a Fortwo Passion Coupe starts at $13,590. The Smart Fortwo Passion convertible starts at $16,950. Price of the car is estimated at $26,320 in the Chinese market.

In January through August this year, a total of 18,000 domestically made and imported Mercedes-Benz vehicles were sold in China, representing a growth of 50 percent year on year, and the Benz S-series saw sales of 9,900 units, accounting for more than 50 percent of the total.

For more information about the burgeoning auto industry in China please visit http://www.gasgoo.com/Autobiz/list/7/China-News.html