Daimler earns $3 billion in first quarter on strong China sales
#1
04-29-2011, 09:10 AM
Daimler earns $3 billion in first quarter on strong China sales
Filed under: China, Mercedes-Benz, Earnings/Financials
Daimler has announced a very strong pre-tax profit of $3 billion for the first quarter of 2011, up significantly compared to its Q1 2010 profit of $1.76 billion. The hefty earnings come as Mercedes-Benz sales shot up 13 percent, while revenue jumped by 17 percent to $37 billion on the quarter. Post-tax earnings came in at $1.75 billion, nearly doubling 2010 totals.
A sales increase of 13 percent and with revenues up 17 percent, it's safe to say that Daimler is selling more expensive Mercedes-Benz models these days. The automaker says S-Class sales are up by 25 percent, due mainly to demand in China, while overall sales in the People's Republic are up 78 percent versus Q1 2010.
Daimler is looking to move 1.3 million Mercedes-Benz and Smart models in 2011, up slightly from sales of 1.28 million in 2010. But by 2015 the automaker plans to bump sales to 1.5 million units in part because of A-Class and B-Class variants that will begin hitting the market this year. Hit the jump to read over the Daimler press release.
[Source: Daimler | Image: Michael Harley/AOL]Continue reading Daimler earns $3 billion in first quarter on strong China sales
Daimler earns $3 billion in first quarter on strong China sales originally appeared on Autoblog on Fri, 29 Apr 2011 10:01:00 EST. Please see our terms for use of feeds.
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Daimler has announced a very strong pre-tax profit of $3 billion for the first quarter of 2011, up significantly compared to its Q1 2010 profit of $1.76 billion. The hefty earnings come as Mercedes-Benz sales shot up 13 percent, while revenue jumped by 17 percent to $37 billion on the quarter. Post-tax earnings came in at $1.75 billion, nearly doubling 2010 totals.
A sales increase of 13 percent and with revenues up 17 percent, it's safe to say that Daimler is selling more expensive Mercedes-Benz models these days. The automaker says S-Class sales are up by 25 percent, due mainly to demand in China, while overall sales in the People's Republic are up 78 percent versus Q1 2010.
Daimler is looking to move 1.3 million Mercedes-Benz and Smart models in 2011, up slightly from sales of 1.28 million in 2010. But by 2015 the automaker plans to bump sales to 1.5 million units in part because of A-Class and B-Class variants that will begin hitting the market this year. Hit the jump to read over the Daimler press release.
[Source: Daimler | Image: Michael Harley/AOL]Continue reading Daimler earns $3 billion in first quarter on strong China sales
Daimler earns $3 billion in first quarter on strong China sales originally appeared on Autoblog on Fri, 29 Apr 2011 10:01:00 EST. Please see our terms for use of feeds.
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