By Christoph Steitz and Christine Uyanik

MUNICH (Reuters) -German luxury automaker Mercedes-Benz is sticking with its premium strategy in its main market China, where a brutal pricing war has cost the group market share as local customers increasingly switch to cheaper domestic models.

CEO Ola Kaellenius, speaking to Reuters ahead of the IAA auto show in Munich, said the new electric GLC SUV – which Mercedes-Benz unveiled on Sunday – would be instrumental in recovering lost ground in the world’s largest auto market.

“This is going to hit the nail on the head in terms of what Chinese Mercedes customers are looking for,” Kaellenius said.

“And yes, we charge a little bit more. But GLC fans can rest assured … from a pricing point of view, if you’re currently a GLC customer, you will also f

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