Richer mix lifts Mercedes Q2 car profits more than a third to €1.4bn

GERMANY
Richer mix lifts Mercedes Q2 car profits more than a third to €1.4bn
Mercedes-Benz Cars hasn’t missed a beat since the beginning of this year

Published: Tue, 05 Aug 2014 15:23:54 GMT
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At a time of intensifying prestige car wars, fought out chiefly in China, Daimler’s Mercedes car brand can still look back on a successful second quarter. For this year Mercedes also offered a highly optimistic outlook, saying that full year profits from its car side will be “significantly” above last year’s level. Underscoring its upbeat outlook, for the first-half Mercedes’ car arm reported pre-tax earning of €2.59bn, up 73 per cent from the €1.5bn earned during the same period last year

Mercedes-Benz Cars, for long the motor beating at the heart of Daimler, the German vehicles group, hasn’t missed a beat since the beginning of this year.

73%
Jump in Mercedes Cars 1st half pre-tax profits to €2.59bn

This is because of a richer mix of new models and its notably more strenuous car sales efforts in China’s still flourishing prestige car market, plus faster than average growth in the US, which still ranks as Mercedes’ biggest car market.

Its second quarter pre-tax earnings (EBIT), buoyed by a near-doubling in global sales of its new flagship S-Class range to 30,000 units, rose by just over a third to €1.4bn, elevating its pre-tax margin for this year’s second quarter to 7.9 per cent from 6.4 per cent during the same period last year...more

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73% Jump in Mercedes Cars 1st half pre-tax profits to €2.59bn

73%
Jump in Mercedes Cars 1st half pre-tax profits to €2.59bn