By CRM staff
Toronto, Ontario — September 18, 2018 — In the past four years, Mercedes-Benz has been doing something uncharacteristic in the world of luxury car makers – selling off massive amounts of corporately owned dealerships around the world. Recently, this trend has migrated to Canadian shores.
Since 2014, Mercedes-Benz has sold off 63 of 158 stores globally with plans to sell off more in the near future. Now, the luxury auto giant has put 4 of 11 dealerships in the Greater Vancouver Area up for sale simultaneously which has raised more than a few eyebrows as to why exactly this is.
The decision to sell came from parent company Daimler AG, who was quoted in saying that this outcome is not something that was exactly ‘desirable’. Rather this is an effort to reduce the organizations ‘retail footprint’.
The sale of these four dealerships affects the positions of about 450 employees and will be concluded by the end of 2018 or early 2019.
Buyers’ interest from Canada and internationally have been reportedly substantial and that is no surprise. Despite this fishy fire sale of dealerships, the company has never been more profitable. In 2016 Mercedes-Benz Canada sold a record breaking 48,320 passenger vehicles, vans, and smart units, only to smash this record the following year with 52,298 units in 2017.
