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New Products Drive Sharp Surge in Daimler Earnings

CLA, other line-up additions draw in new buyers for Mercedes brand.

by on Apr.30, 2014

Mad Men star Jon Hamm helped unveil the new S63 AMG 4Matic Coupe at the NY Auto Show.

With new models like the Mercedes-Benz CLA drawing in a new generation of buyers, the brand’s German parent Daimler AG reported its net profit nearly doubled during the first quarter.

The German maker had struggled to overcome a series of problems in recent years, notably including a slide in demand in China, but Mercedes’ rebound in that booming market further lifted the maker’s earnings to 1.086 billion Euros for the January to March quarter, or $1.498 billion, up from 564 million Euros a year earlier.

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“Our strategy is paying off,” said Daimler CEO Dieter Zetsche, “our investments are bearing fruit.”

In a statement accompanying its earnings, the maker predicted both revenues and earnings would “significantly increase” for all of 2014 as it gained ground in China while also boosting sales in more established markets like the U.S. and Europe.

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