Investors pressed Mercedes-Benz on its recovery plans for China on Thursday (April 16), warning that a luxury-focused strategy could hurt the German brand's chances of winning back Chinese consumers after a slump in sales.

Like rivals BMW and Audi, Mercedes has lost ground in the world's largest car market, struggling to keep pace with fast-moving local brands such as BYD, NIO and Li Auto, which offer tech-laden premium cars at lower prices.