Daimler AG managed to turn a profit in the second quarter, posting earnings before interest and taxes of $2.7 billion, up from a loss of $1.3 billion the 2009 quarter.
The company attributed the improvement to strong growth in car and truck markets, an attractive product portfolio and the company's efficiency improvements.
"Our strategy is paying off: We have a very dynamic development of unit sales and revenue in all divisions," said Dr. Dieter Zetsche, chairman of the Board of Management of Daimler AG and head of Mercedes-Benz Cars.
The company's net profit was $1.7 billion during the quarter, compared to a net loss of $1.38 billion in the year-ago period.
Daimler Trucks' sales were up 55 percent to 83,800 vehicles in the second quarter, with U.S. sales up 44 percent. Revenue for the segment was $7.7 billion, up from $5.5 billion in the 2009 quarter. The unit also managed to post positive earnings, at $391 million, compared to a loss of $662 million in 2009.
Mercedes-Benz Vans increased sales by 42 percent to 59,400 vehicles on revenue of $2.6 billion.
Based on the continuation of market stability and the success of the company's products, Daimler has raised its expectations for earnings for 2010 to around $1.3 billion for Daimler Trucks.
"Daimler Trucks expects a significant recovery of unit sales in 2010 due to the stabilizing market situation in many major markets and the availability of new models," the company said. "The Detroit Diesel engines supplied in the United States from the new generation of heavy-duty engines with BlueTec technology and complying with EPA '10 emission regulations will lead to increasing demand for Freightliner trucks. Customer demand should also be stimulated by the new Fuso heavy-duty truck with BlueTec engines from the new Daimler Trucks heavy-duty engine generation and by the new medium-duty Fuso Fighter."
The company attributed the improvement to strong growth in car and truck markets, an attractive product portfolio and the company's efficiency improvements.
"Our strategy is paying off: We have a very dynamic development of unit sales and revenue in all divisions," said Dr. Dieter Zetsche, chairman of the Board of Management of Daimler AG and head of Mercedes-Benz Cars.
The company's net profit was $1.7 billion during the quarter, compared to a net loss of $1.38 billion in the year-ago period.
Daimler Trucks' sales were up 55 percent to 83,800 vehicles in the second quarter, with U.S. sales up 44 percent. Revenue for the segment was $7.7 billion, up from $5.5 billion in the 2009 quarter. The unit also managed to post positive earnings, at $391 million, compared to a loss of $662 million in 2009.
Mercedes-Benz Vans increased sales by 42 percent to 59,400 vehicles on revenue of $2.6 billion.
Based on the continuation of market stability and the success of the company's products, Daimler has raised its expectations for earnings for 2010 to around $1.3 billion for Daimler Trucks.
"Daimler Trucks expects a significant recovery of unit sales in 2010 due to the stabilizing market situation in many major markets and the availability of new models," the company said. "The Detroit Diesel engines supplied in the United States from the new generation of heavy-duty engines with BlueTec technology and complying with EPA '10 emission regulations will lead to increasing demand for Freightliner trucks. Customer demand should also be stimulated by the new Fuso heavy-duty truck with BlueTec engines from the new Daimler Trucks heavy-duty engine generation and by the new medium-duty Fuso Fighter."
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