Zetsche: Mercedes-Benz will be back on top of luxury segment by 2020

Daimler’s boss Dieter Zetsche said that he hopes to bring Mercedes-Benz back to the top spot in the luxury segment by 2020 – beating Audi and BMW.

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“I am confident that we will be ahead of our rivals by 2020 at the latest,” he said in an interview with Boersen-Zeitung. Zetsche said that he hopes to reach the goal during his time as boss. His contract runs through Dec. 2013 but he is expected to extend it by 3 years in Feb.

Zetsche admits that Mercedes has failed to keep up with its competitors in the compact segment and in China.

Daimler has vowed to cut costs by $2.6 billion at its Benz division by the end of 2014.

– By: Omar Rana

Source: AutoNews