Mercedes-Benz is perhaps the biggest name in luxury cars globally, and for countless buyers around the world, it is a car brand to aspire to own. The German automaker has a reputation for superb build quality, excellent engineering, and the bragging rights that its founder Carl Benz invented the first production automobile.

Today, Mercedes-Benz faces a new class of challenges as Tesla has become the aspirational brand for younger consumers. There is a slew of other EV hopefuls vying for the next generation’s aspirational vehicle’s mantle. Automakers have had to sink billions into new technologies and contend with a new crop of competitors in the critical Chinese market and around the world.

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How Mercedes-Benz Is Losing Its Prestige Image