Mercedes-Benz Third-quarter Margins Rebound On China Boost

22Views

October 23, 2020

FRANKFURT: Strong demand for luxury cars in China in the third quarter helped turn around margins at Daimler’s Mercedes-Benz cars division despite an overall fall in deliveries due to the COVID-19 pandemic, the carmaker said on Friday.

The adjusted return on sales at Mercedes-Benz Cars & Vans rose to 9.4% in the quarter, up from 7% a year earlier and above the minus 1.5% margin Daimler posted in the second quarter.

Daimler said its adjusted earnings before interest and taxes (EBIT) rose to 3.479 billion euros ($4.11 billion) in the quarter, up from 3.14 billion euros in the year-earlier period.

The carmaker added it expected full-year EBIT to reach prior-year levels, and reiterated it expects group unit sales and revenue in 2020 to be significantly lower than the prior year.

($1 = 0.8474 euros)

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Mercedes-Benz Third-quarter Margins Rebound On China Boost

Speak Your Mind

LEAVE A REPLY Cancel reply

Get in Touch

Recommend for You

Oh hi there It’s nice to meet you.

Subscribe and receive our weekly newsletter packed with awesome articles that really matters to you!

You might also like

EDITOR PICKS

POPULAR POSTS

POPULAR CATEGORY

About Us

Follow Us

Support Us & Be a Patreon

Add QNewsHub to your Homescreen!

Oh hi there
It’s nice to meet you.