Mercedes-Benz
Mercedes-Benz is a German manufacturer of automobiles, buses, coaches, and trucks. It is currently a division of the parent company, Daimler AG (formerly DaimlerChrysler AG), after previously being owned by Daimler-Benz. Mercedes-Benz has its origins in Karl Benz’s creation of the first automobile in January 1886, and by Gottlieb Daimler and engineer Wilhelm Maybach’s conversion of a carriage by the addition of a petrol engine the same year. The Mercedes automobile was first marketed in 1901 by Daimler Motoren Gesellschaft. The first Mercedes-Benz brand name vehicles were produced in 1926, following the merger of Karl Benz’s and Gottlieb Daimler’s companies into the Daimler-Benz company. Mercedes-Benz has introduced many technological and safety innovations that have become common in other vehicles several years later.

Quality
Since its inception, Mercedes-Benz had a reputation for quality and durability. Objective measures looking at passenger vehicles such as J.D. Power surveys demonstrated a downturn in reputation in this area in the late 1990s and early 2000s. By mid-2005, Mercedes temporarily returned to the industry average for initial quality, a measure of problems after the first 90 days of ownership, according to J.D. Power. In J.D. Power’s Initial Quality Study for the first quarter of 2007, Mercedes showed dramatic improvement by climbing from 25th to 5th place, surpassing quality leader Toyota and earning several awards for its models. For 2008, Mercedes-Benz’s initial quality rating improved by yet another mark, now in fourth place. On top of this accolade, it also received the Platinum Plant Quality Award for its Mercedes’ Sindelfingen, Germany assembly plant. As of 2009, Consumer Reports of the United States has changed their reliability ratings for several Mercedes-Benz vehicles to “average,” and recommending the E-Class and the S-Class.

Mercedes-Benz
Type:Division of Daimler AG
Founded:1881
Founder(s):Gottlieb Daimler, Karl Benz
Headquarters:Stuttgart, Germany
Key people:Dieter Zetsche, CEO
Industry:Automotive industry
Products:Automobiles Trucks Buses Engines
Parent:Daimler AG
Website: www.Mercedes-Benz.com

Among Mercedes-Benz’s world debuts are its four new S-Class models, including
S 400 HYBRID, the first hybrid car equipped with a lithium-ion battery, defining the benchmark for low-emission luxury saloons. Another highlight is the all-new
E-Class, unveiled for the first time in Asia, and available for order by Chinese customers throughout the event ahead of its launch in the China market in the second half of this year. All in all, Mercedes-Benz’s spectacular show offerings – from first-class products, eco-friendly innovations and safety technologies to fascinating design and superb performance – perfectly exemplify its long-term commitment to the China market and bring to life its theme of “Confidence, Fascination and Responsibility”.

The theme also represents Mercedes-Benz’s full understanding of customer demand, which has in turn led to increased sales. According to the latest data, Mercedes-Benz maintained its leadership in the luxury segment, delivering 5,100 units and a 50 percent increase in March alone, tallying 11,000 units in the first quarter with a year-on-year increase of 30 percent in Mainland China.
“The impressive sales performance shown by Mercedes-Benz this quarter has confirmed our strong confidence in the future growth of Mercedes-Benz in China. This is a continuation of our success story of the last 2 years in which we have already increased our sales by 120%,” said Mr. Klaus Maier, President and CEO of Mercedes-Benz (China) Lt. “By premiering the most important offerings among the Mercedes-Benz product portfolio, including the new generation S-Class and all new E-Class, we express our dedication and commitment to the China market and inject a strong show of confidence into the auto industry.”

Mercedes-Benz’s 2,500 sqm exhibition booth is specifically designed to mirror the automaker’s hybrid concept with two intertwined lines, a notion precisely exemplified by the S 400 HYBRID. Along with the concept BlueZERO, the two models demonstrate the capabilities of the automaker’s innovative technologies dedicated to low-emission transportation. The booth’s atmosphere is further complemented by Chinese design elements, exuded by the harmonious ambience created by the distinctive peony, thereby illustrating the leading automaker’s profound appreciation of Chinese customers.

Harvey Miller, an attorney for the auto maker, said at a court hearing that GM has just $2 billion in cash and that it has an “urgent” need to access the government loan.

The $33 billion in aid from the U.S. and Canada is intended to support GM during what it hopes will be a quick trip through bankruptcy. It plans to sell the bulk of its assets to a new company controlled by the U.S.

GM was in court Monday afternoon for the first time since filing for bankruptcy to ask Judge Robert Gerber of the U.S. Bankruptcy Court in Manhattan to approve routine requests, known as first-day motions, intended to allow it to continue operating.

Gerber approved GM’s request to make payments to troubled “critical” parts makers while in bankruptcy through a U.S. Treasury program for troubled parts makers and its own supplier-aid initiative.

The auto maker feared a collapse of any of its core suppliers would lead to a costly work stoppage. Top-tier suppliers Visteon Corp. (VSTN) and Metaldyne Corp. filed for bankruptcy protection recently amid turmoil in the U.S. auto industry. GM’s main supplier, Delphi Corp. (DPHIQ), has been in bankruptcy for almost four years.

Separately, the U.S. Trustee’s office, an arm of the Justice Department that monitors bankruptcy proceedings, announced at Monday’s hearing that GM’s unsecured creditors are scheduled to meet Wednesday at 10 a.m. EDT in New York. At that meeting, a committee will be formed to represent the creditors during the bankruptcy case.

The bankruptcy loan requires GM to win court approval for the sale of its assets by July 10. The financing comes on top of about $20 billion in loans provided to the auto maker by the U.S. Treasury Department.

The auto maker’s cash levels are now well below the amount it would need to operate on its own. Without the $20 billion in U.S. government loans GM received, the picture would be far worse.

GM had more than $24 billion in liquidity at the end of the first quarter a year ago, as the company’s non-U.S. operations helped offset multi-billion dollar losses in North America. At the end of March, GM had $11.6 billion in liquidity that was largely offset by federal loans.