Daimler net profit doubles boosted in part by record sales in Mexico
Daimler reported its net profit doubled during first quarter 2017 on the back of record sales and revenues. The company’s unit sales were 10% above last year at 754,300 vehicles, with revenues up by 11% to US$ 42.32 billion.
Its earnings before taxes were 87% above prior-year level at US$ 4.37 billion, with net profit doubled to US$ 3.05 billion.
Mercedes-Benz Cars’ unit sales increased by 14% to 568,100 vehicles in the first quarter. However, first quarter sales by Daimler Trucks of 94,000 vehicles were 11% lower than in the prior -year period.
The car division set a new record in the reporting period, with best-ever unit sales for the first three months of a year in total and in Europe (+8%), China (+43%), Canada (+17%) and Mexico (+18%).
The success in Europe was supported by double-digit growth and sales records among others in the United Kingdom (+13%), Belgium (+13%) and Sweden (+13%).
In the German market, the division achieved growth of 6%. Mercedes-Benz Cars increased its unit sales also in the United States (+2%).
Daimler now expects to significantly increase its total unit sales in the year 2017.
Mercedes-Benz Vans increased its unit sales by 13% to 86,800 vehicles, a new record in a first quarter.
Daimler builds heavy trucks in two Mexican plants located in Santiago Tianguistenco, State of Mexico, and Saltillo, Coahuila. The company also works in a car assembly plant in Aguascalientes in partnership with Nissan’s luxury brand Infiniti.