OFFICIAL PRESS RELEASE
Stuttgart/Berlin, Germany, Jan 18, 2011
New "Mercedes-Benz Young Classics" division successfully launched: Mercedes-Benz Young Classics: cult object and investment
Modern classics, or "youngtimers", from Mercedes-Benz are becoming more and more popular. These are vehicles from the period 1970 to around 1990 that are already deemed to be, or have the potential to become, classic cars. In Europe and the US in particular, they have become something of a cult. Their authenticity and limited number means that these vehicles are not only fun to own, but that they can also bring an above-average return on investment. In order to meet growing demand, the Stuttgart-based premium brand established a new division, “Mercedes-Benz Young Classics" in 2009 and opened the first Young Classics Store in the Mercedes-Benz Museum in Stuttgart in September 2009.
Buy or hire your dream car: the Young Classics Store has a broad range of youngtimers on offer, making it unique in the industry. Every vehicle is in excellent condition and covered by a warranty from Mercedes-Benz. "Young Classics will help us to make people's automotive dreams come true", commented Michael Bock, Head of Mercedes-Benz Classic. Along with vehicle sales and rental, Mercedes-Benz Young Classics can also help arrange financing or insurance.
But the service provided by Mercedes-Benz Young Classics encompasses far more: drivers of "youngtimers" can have their pride and joy serviced and can if necessary source genuine replacement parts. These services are also available from selected authorised Mercedes-Benz dealers across Germany. Further details of what's on offer are also available online: www.mercedes-benz.com/young-classics.
Perennial fascination for young and old – increase in value guaranteed
According to the statistics from the German Federal Office for Motor Vehicles, the market for "youngtimers" in Germany comprises some 6.6 million cars. Around one million of these are Mercedes-Benz vehicles, representing a market share of 15.6 percent. Studies undertaken by the Fédération Internationale des Véhicules Anciens (FIVA) and DEKRA go to show that some 60 percent of owners of Mercedes-Benz "youngtimers" are between 21 and 50 years old – and so often not much older than the cars themselves. Only one in five of them use their "young classic" as their main vehicle.
Whether a son wants to drive the car his father drove, the young creative type wants to differentiate himself from the mainstream, or the well-established doctor wants to fulfil a childhood dream – what they all have in common is the desire for a vehicle with character. For many younger motoring enthusiasts, as well as for those who have remained young at heart, driving a "youngtimer" is seen as something of a cult. A Mercedes-Benz is even far more than this: the overall charisma it exudes has made it part of our culture.
For every Mercedes-Benz carries on the tradition of the inventor of the automobile to shape the future of individual mobility. Further characteristic qualities of the brand, such as safety and comfort, are part of this tradition and have inherent in them Mercedes-Benz's sense of responsibility to offer the customer "The best of all that's good" (Carl Benz) or, quite simply, "The best or nothing" (Gottlieb Daimler).
Every Mercedes-Benz Young Classic was once part of daily life and played a key part in our cultural experience. These vehicles bring the street scenes of our memory alive. They are the contemporary witnesses of generations who are still driving today. A Mercedes-Benz Young Classic is thus part of our collective memory.
But of course well preserved classics and "youngtimers" are also eminently suited as long-term investments. Classic vehicles, above all the premium-brand models, have become an impressive economic factor – and continue to experience a tremendous growth in value. Compared with an increase of just 32 percent for the German stock index (DAX) in recent years, some Mercedes-Benz models, such as the 300d Cabriolet or the 280 SE Cabrio, have almost doubled in value.
Division to grow further
The Mercedes-Benz Young Classic division allows the brand with the three-pointed star to fill the gap between the sale of new vehicles and the highly specialised classic car business operated by the Mercedes-Benz Classic Center. Mercedes-Benz is thus offering its customers an unrivalled level of continuity in sustaining the heritage of its vehicles from all eras. What is also inherent in this is the brand promise that a Mercedes-Benz will not only be the perfect vehicle for its owner today, when new, but that it will also be so tomorrow, as a classic car – offering at the same time a unique level of stability in terms of value.
"Mercedes-Benz Young Classics" was established at the initiative of Daimler AG's Business Innovation unit. The role of the Business Innovation team is to identify and leverage opportunities for growth right through the value chain. They are looking for as yet unexploited potential and new business ideas around today's core business.
"Mercedes-Benz Young Classics" is an example of the range of possibilities that exist to translate existing strengths into additional profitable growth for our company. Since
1 November 2010 the new business segment has come under the responsibility of Mercedes-Benz Classic. Further Young Classics Stores will open during this year. Before the year is over, further Young Classics Stores will open their doors, for example, in Berlin, Munich, Düsseldorf, Aalen and Hamburg.
The Young Classic Store in the Mercedes-Benz Museum in Stuttgart will be enlarged. In addition, a certification programme will be launched which awards the "Young Classics Partner“ label to authorised Mercedes-Benz workshops which are particularly well qualified as Young Classic shops.
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