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. » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC #CNBC How Mercedes-Benz Is Losing Its Prestige Image