Mercedes-Benz profit forecast raised for the second time in six weeks

Article by Christian Andrei, on August 26, 2010

With the increase in car demand this quarter, the operating profit of Mercedes-Benz unit is also expected to rise. In a statement, CEO Dieter Zetsche said that Mercedes-Benz Cars' earnings before interest and taxes in the second quarter will go over the 806 million euros ($996 million) posted for the first quarter.

Furthermore, full-year Ebit is seen to be at the "upper end" of its forecast of 2.5 billion euros to 3 billion euros.

Daimler, the maker of the Mercedes-Benz brand the world's second-largest luxury carmaker, aims to eventually take the top spot from BMW AG and to successfully fend off Volkswagen AG's Audi.

Daimler aims to gain market share this year by launching an extended version of its full-size E-class sedan -- the first vehicle it made exclusively for the Chinese market.

In the first quarter, deliveries of Mercedes vehicles in China more than doubled. Daimler expects to hit its goal of 10% return on sales at Mercedes-Benz in the second half of 2012.

And as the global economy recovers, Daimler expects to maintain sales at this level for the entire year of 2013. [via autonews - sub. required]

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