Jay-Z & Kanye West’s “Otis” video may have been a precursor and Rick Ross’ Maybach Music Group may find itself in a bind soon. Daimler AG, the German automaker that makes Mercedes-Benz cars, has announced it is shuttering the high-end Maybach brand. Apparently, despite being popular among the Hip Hop elite, the uber-luxury cars just weren’t selling and at that, were bringing down Daimler’s bottom line. Daimler CEO Dieter Zetsche was quoted as saying that Daimler hasn’t made a profit on the Maybach, which it reintroduced in 2002.
The nixing of the Maybachs, which cost north of $350,000 apiece, comes with a caveat: the Mercedes-Benz S-Class will be expanded with several new models, which will come to market in 2013, several media outlets, including Bloomberg News and USA Today, have reported. The brand was “1930s-era marquee,” according to USA Today.
The new S-Class “can replace the Maybach,” Zetsche said. Mercedes will double variations of the $95,000 S-Class to six as it seeks to boost annual vehicle sales by at least 10,000 a year.
Hip Hop’s elite haven’t reacted yet, but it’s safe to say Jay, ‘Ye and MMG may address it sooner than later – perhaps in a song, even.