Daimler Leads German ‘Havens’ as Europe Auto Sector Reels

Daimler AG may be better poised than Renault SA to recover from a selloff of European auto stocks, backed by strong cash reserves and resilient demand for Mercedes-Benz cars.

High-end carmakers such as Mercedes, Bayerische Motoren Werke AG and Volkswagen AG’s Audi tend to weather downturns better than mass-market auto manufacturers like Renault and Fiat SpA because wealthy consumers still have money to spend even when the economy slows, investors and analysts said.