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Daimler Earnings Double

German maker forecasts record Mercedes sales.

by on Apr.29, 2011

Daimler CEO Dieter Zetsche forecasts big increases in demand for Mercedes-Benz, especially in China.

Daimler AG’s first-quarter net profit nearly doubled to $1.65 billion, revenue increasing by 17% on stronger sales across the company’s business lines – which, in turn, prompted a prediction of record sales for Mercedes-Benz passenger cars this year.

“We achieved excellent earnings in the first quarter. This puts us well ahead of our planning and confirms our positive outlook for the year 2011,” Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars, said in a statement Friday.

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Insisting the company is “on the right track,” Zetsche said Daimler is counting on delighting customers w with new product, “continuous innovation and new technologies” in order to “continue our profitable growth.”

Revenues climbed to $34.7 billion, largely reflecting a 12% increase in unit sales in the first quarter to 310,700 vehicles.

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Daimler Boosts ’10 Profit Forecast to $7.6 Billion

Maker credits sales jump, projects more revenue growth.

by on Jul.27, 2010

Growing demand for Mercedes-Benz products has parent Daimler AG swimming in cash.

A 27% increase in sales during the second quarter has prompted Daimler AG to raise its estimate on full year profits to more than  $7.6 billion.

“Our strategy is paying off.  We have a very dynamic development of unit sales and revenue in all divisions. After what was already a very good first quarter, we achieved excellent results in the second quarter,” stated Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars.

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Mercedes-Benz Cars and Daimler Trucks, in particular, posted significant improvements in their operating profit, added Zetsche, who should feel some personal relief at the latest developments.  Only a year ago, despite the Daimler board’s decision to extend his contract, there were sharp questions being raised about the chairman’s personal long-term prospects.

“We anticipate significant revenue growth in 2010 and we are targeting earnings before interest and taxes from the ongoing business of Euro 6 billion.”

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