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Mercedes Defies Downturn in Indonesia
(Source: Jakarta Post)
Luxury car sales are defying the overall downturn in Indonesia, says Mercedes-Benz. Despite a 26% decline in auto sales so far this year compared to 2008, premium sales rose 1% to 1,863 units, says Rudy Borgenheimer, who heads the Mercedes-Benz operation in Indonesia. . . . keep reading
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Harry Winston, Daimler Receive Investments
Jeweler Harry Winston will receive a $150 million investment from Toronto-based Kinross Gold Corp. The deal gives Kinross 19.9% of Harry Winston stock, a seat on the company's board of directors and a 9% stake in the Diavik Diamond Mine. Harry Winston also announced it would suspend its dividend in an effort to conserve cash. . . . keep reading
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Used Luxury Auto Demand Booming
(Source: Wall Street Journal)
Demand for high-quality, used luxury autos is booming even as new sales slump, reports The Wall Street Journal. The trend suggests that luxury consumers are searching for a "new balance" between saving money and living life as before the economic meltdown. . . . keep reading
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