First dealership sold off by Mercedes-Benz in Germany

(Alliance News) - The sale of Mercedes-Benz Group AG's own car dealerships in Germany has begun.

"With the signing of the contracts for the sale of the dealership in Neu-Ulm, the starting signal for the planned implementation has now been given," the company announced on Monday.

The Sterne Gruppe has been awarded the contract for the dealership, which employs around 200 people. The company already operates 15 Mercedes locations elsewhere in southern Germany and has a long-term concept for Neu-Ulm.

Mercedes-Benz said it is also in "very constructive talks" with potential buyers for further locations.

At the beginning of 2024, it was announced that the Stuttgart-based car manufacturer was considering selling its car dealerships after a study had shown that a sale made sense.

Potential buyers would have to meet several requirements, including retail expertise, entrepreneurial competence, economic strength, willingness to invest and openness to employee representation. The company said it would not sell to purely financial investors.

According to earlier statements by Mercedes-Benz, around 8,000 people in Germany employed at around 80 sites are affected.

Ergun Lümali, head of the general works council, initially criticized the move in strong terms and announced resistance, describing the plans as a "slap in the face."

Following protests by employees, Mercedes announced last year that it had reached an agreement with the general works council on key points for the possible transfer of operations to potential buyers.

Shares in Mercedes-Benz closed down 1.6% at EUR49.69 in Frankfurt on Monday.

source: dpa

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