July 23, 2020 / 8:17 AM / 17 days ago

Mercedes-Benz says it will focus on high-end cars to hike profits

FILE PHOTO - An employee at a Mercedes-Benz dealership, wearing a protective mask, walks past a vehicle, amid the coronavirus disease (COVID-19) outbreak in Brussels, Belgium May 26, 2020. REUTERS/Yves Herman

FRANKFURT (Reuters) - Daimler (DAIGn.DE) Chief Executive Ola Kaellenius on Thursday said the company’s Mercedes-Benz luxury brand will seek to develop its high-end luxury vehicle segment as a way to hike profits.

“I see the strongest growth in the upper end of the segments where we are active,” Kaellenius told journalists in a call to discuss the company’s quarterly results.

Reporting by Edward Taylor; Editing by Riham Alkousaa

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