The new Mercedes-Benz E-Class has scored a home run with luxury buyers – and with investors, demand for the new midsize model helping parent Daimler AG deliver a 13% increase in earnings for the third quarter.
Sales of the 2017 E-Class, as well as Mercedes’ expanding line-up of SUVs, helped offset a slump in Daimler’s truck business, the German maker handily exceeding analysts’ expectations for the July-September quarter.
Earnings for the period hit 2.73 billion euros, or $2.97 billion, up from 2.42 billion euros during the third quarter of 2015. Revenues rose 4%, to 38.6 billion euros, or $42.4 billion. On a unit basis, sales of passenger cars rose 11%, to 565,564. (more…)