Daimler net profit doubles boosted in part by record sales in Mexico
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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.