The boss of Mercedes-Benz owner Daimler admitted it was playing "catch-up" in China but is optimistic for the future. Mercedes' second-quarter unit sales saw 34 percent year-over-year growth in China.
"Our products pipeline is full, people are extremely excited about our new product but there is more to come…so we are really optimistic for the remainder of the year and next year as well," Dieter Zetsche, Daimler CEO told CNBC.
Automakers with a broad product portfolio seem to be faring best, with the Porsche boss adding that while sales of its Panamera model remain weak in China due to the slowing premium segment, its Cayenne model is selling better, adding that the company has reduced its growth outlook in the company slightly.
"We are strong, we can grow…but we have reduced a little bit the growth for the future," Matthias Müller, CEO of Porsche, told CNBC.