Running Mercedes should be the dream job for a car industry executive. The venerable German luxury car marque was, until last year, the undisputed standard-setter for premium cars as well as the biggest seller.

For Eckhard Cordes, its new chief executive, the post should be even sweeter: he harbours ambitions of running DaimlerChrysler when Jürgen Schrempp, current chief executive, eventually retires, and experience at its most important and profitable division is essential.