March 3, 2020 / 10:14 AM / 3 months ago

Daimler CEO says is working on plan to recover lost China sales

FRANKFURT, March 3 (Reuters) - Daimler is working on a strategy to push sales in the remainder of the year to make up for lost sales in China where demand was hit due to travel bans imposed by authorities to contain the spread of the new corona virus.

“The Chinese market was down in February. We want to come up with a recovery plan,” Chief Executive Ola Kaellenius told journalists in a conference call on Tuesday.

Although markets were hit by the spread of the coronavirus, sales during Chinese new year are always lower, when people take a holiday. But the start of the year had shown that underlying demand in China remains robust, Kaellenius said.

Daimler’s Mercedes-Benz factory in Beijing re-started production on February 10. (Reporting by Edward Taylor Editing by Madeline Chambers)

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