"After a discussion of the pros and cons, it was decided that in the future, Daimler will focus entirely on its core brand in the luxury segment: Mercedes-Benz, the world's most valuable premium car brand." It aims to sell the most luxury cars "by the end of this decade at the latest".
Mercedes-Benz will increase its own S-Class range with three new models to make an "even more attractive offer to the existing Maybach customers as well as the owners of competing brands, thus increasing sales opportunities and profit potential".
The company's history stretches back to Wilhelm Maybach, who became a great friend of Gottlieb Daimler.
He set up his own company in 1909.
Less than a decade later his son had renamed the group Maybach-Motorenbau and released its first car.
The luxury vehicles were popular among a series of industrialists, statesmen and celebrities in the 1920s and 1930s.
Daimler relaunched the brand in 2002, when Jurgen Hubbert, then head of Mercedes-Benz cars, said it was "time to kiss the sleeping beauty awake".
- Independent