Daimler expects a strong business year in 2011, says CFO

Article by Christian Andrei, on February 8, 2011

Daimler AG’s CFO Bodo Uebber told German TV station Deutsches Anleger Fernsehen on the sidelines of a sports gala in Wiesbaden that the company expects 2011 to be another strong business year, but has concerns over supply constraints and high commodity prices.

Its main brand Mercedes-Benz said that it aims to sell the highest number of cars in the company's history in 2011. In fact, it just had its best January result ever.

On Feb. 16, 2011, Daimler will present its preliminary annual earnings; however, it has already revealed that Mercedes-Benz brand vehicles sales rose 15.3 percent to 1.17 million units in 2010 aided by growth in the United States and China.

Optimism aside, Uebber “warned” that challenges remain given rising input prices as well as production constraints - both signals economists often point to for an impending buildup of inflationary pressures that pose a dilemma for the European Central Bank.

His comments come after the euro zone saw inflation spike to a 15-month high in January 2011, with consumer prices in the 17 countries using the euro up 2.4 percent year-on-year, holding above the ECB's target of just below two percent for the second month in a row. [via autonews - sub. required]

Topics: daimler

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