Daimler raises full-year outlook due to strong results in Q3 2010

Article by Christian Andrei, on October 29, 2010

As Daimler’s net income surpassed analysts' estimates of the demand for top-of-the-line E- and S-Class sedans in China and the US, the carmaker then raised its full-year profit forecast. Daimler’s third-quarter net income increased 28-fold to 1.61 billion euros ($2.21 billion) from 56 million euros a year ago.

The profit estimates of 9 analysts averaged 1.09 billion euros. Meanwhile, sales had risen by 30% to 25.1 billion euros.

CEO Dieter Zetsche raised his target for 2010 earnings before interest and taxes to over 7 billion euros from a prediction of 6 billion euros previously. For the first nine months of the year, Daimler had posted an operating profit of 5.7 billion euros.

Daimler's luxury-car sales are on track to recovery after the financial crisis as demand moves up in China and the US, the two largest auto markets in the world.

Deliveries of heavy trucks at Daimler were affected largely by the recovering global economy. Jose Asumendi, a London-based analyst with Royal Bank of Scotland, said that “strong results” were seen all across the board.

However, Asumendi added, “Consensus is way too low.” Sales in China climbed 19% last month. Mercedes’ strategy to double deliveries had enabled it to beat the market.

US auto sales in September increased to a seasonally adjusted annual rate of 11.8 million, the quickest pace since the “cash for clunkers” program ended. Last month, Mercedes sold more units in the US than BMW AG and Toyota Motor Corp.'s Lexus. [via autonews - sub. required]

Topics: daimler, profit

If you liked the article, share on:


Login or Create new account to add a comment!


More than three decades ago, the DeLorean DMC-12 was produced by the DeLorean Motor Company. However, production was stopped due to issues within the company. The car itself was decent...
by - October 27, 2016
Tesla is making sure that all models under production will receive the necessary advanced hardware that will allow them to be autonomously driven. The fitment of these advanced hardware to...
by - October 27, 2016
Wondering how fast the 2017 Chevrolet Camaro ZL1 in actual driving? To provide customers a good idea on how fast the 2017 Camaro ZL1 could really get, Chevrolet recently had...
by - October 27, 2016
So, it is official! The new Honda Clarity FCV has the longest verified range of any zero-emissions vehicle currently on the road in the United States. One of the main...
by - October 27, 2016
Many have been anticipating Mercedes-Benz Vans’ newest luxury pickup truck, the X-Class. While Mercedes-Benz has yet to reveal the official production version of the X-Class, it was kind enough to...
by - October 27, 2016