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Daimler lifts guidance as Mercedes sales gain traction
April 26, 2017 / 5:42 AM / 7 months ago

Daimler lifts guidance as Mercedes sales gain traction

FRANKFURT, April 26 (Reuters) - Daimler AG hiked its guidance on Wednesday and said it now expects a significant rise in earnings before interest and taxes (EBIT) this year, lifted by surging sales of Mercedes-Benz luxury cars and sports utility vehicles.

“We are very confident for the remainder of the year to achieve our financial as well as our strategic goals,” Daimler’s Chief Financial Officer Bodo Uebber said in a statement.

In February, Daimler had said it expected only slight growth in group EBIT, but record sales of Mercedes passenger cars in the first quarter helped the Stuttgart-based carmaker to achieve forecast-beating results.

In March alone, sales of the new Mercedes-Benz E-Class, a volume model for the carmaker, surged by 65 percent. (Reporting by Edward Taylor; Editing by Ludwig Burger)

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