Mercedes-Benz Hellas announced the signing of an agreement for the transfer of all the shares of the Greek company to the Swiss Emil Frey Group.
According to the relevant announcement “the change of ownership will allow Mercedes-Benz Hellas to continue the business operation of Mercedes-Benz and Smart Passenger and Light Commercial Vehicles, Mercedes-Benz and Fuso Trucks as well as Mercedes Buses -Benz and Setra in Greece, under one business roof, since the former Daimler AG group has been split since December 2021 into two independent Groups (Mercedes-Benz Group AG and Daimler Truck Holding AG)”.
As is emphasized that with the Emil Frey Group, Mercedes-Benz Hellas finds an experienced and reliable new shareholder, who is a long-term partner of Mercedes-Benz AG, with extensive experience in the Sale and Repair of Mercedes-Benz vehicles in many European markets.
The change in the ownership regime of Mercedes-Benz Greece ensures the uninterrupted provision of Sales and Technical service services for its customers, in the same venues it has always had.
New growth prospects in the Greek car market
Mercedes-Benz Hellas, as the newest member of the Emil Frey Group, which for many years has been the largest vehicle distribution network in Europe with over 620,000 car sales in 2021, is entering a new trajectory in the Greek car market from the Q1 2023 and plans to further strengthen its competitive position at a time when the automotive industry is transforming. To ensure a smooth transition to the new regime, the change of ownership will be completed in the first quarter of 2023.
In addition, the company notes, Mercedes-Benz’s commitment to offering excellent customer experience, which combined with the brand’s top products and services, has distinguished Mercedes-Benz as one of the most valuable and most admired commercial brands in Greece. The brand’s customers will continue to enjoy the same excellent Mercedes-Benz sales and technical service at all existing locations as the company will transfer all existing Authorized Dealer & Repair contracts and all of its staff.
Latest News
Athens Int’l Airport Wins Top Prize at Routes Europe Awards
The Routes business is focused entirely on aviation route development and the company's portfolio includes events, media and online businesses
IOBE: Income Gap Between Poor and Wealthy Greeks Widens
The findings in the analysis, entitled “Progressivity in Income Taxation in Greece, 2012-2021", paint a bleak picture for Greeks in the bottom half of the income bracket, warning that income inequality is growing
Study Finds 4 in 10 Greeks to Slash Easter Spending
This year, hit by persistent inflation, many Greeks will be dishing out less on food, drink and gifts for Orthodox Easter on May 5
ELSTAT: Overnight Stays in Greece Up in Feb.
The provisional monthly data revealed that arrivals at tourist accommodations amounted to 773,104 and overnight stays were 1,677,685
Electric Energy: Greece’s New Sustainable Export
Moreover, a surplus of generated electricity cannot be fully absorbed by domestic grids and this excess power finds eager buyers in the form of companies entering into Power Purchase Agreements (PPAs), willing to pay a premium for clean energy
IOBE Revises Greek GDP Growth Downward, to 2.1% For 2024
Annual inflation is expected to reach 3%, up from the previous forecast of 2.8%
Last Sections of 136km E65 Highway Inaugurated on Tues.
Athens to Karditsa drive time is expected to drop to two and a half hours (under normal conditions), and some three hours from Athens to Trikala
Reuters: Greece to Repay More Bailout Loans Ahead of Maturity in 2023
The country has relied solely on international markets for its borrowing needs since a third institutional bailout ended in 2018
Ag Min. Avgenakis: Greece-China Cooperation in Research, Education in Agri-Food Sector
Greek minister tours cutting-edge hydroponics and robotics facilities at the Chinese Academy of Agricultural Sciences in Beijing
Mini Holiday Season in Greece for Upcoming Orthodox Easter
Occupancy rates reach up to 90% domestically for accommodations open ahead of peak summer season