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SEARCHDaimler AG, the German parent of Daimler Trucks North America, has reported higher third quarter profit and revenue, with record Mercedes-Benz auto sales and a booming North American truck market being partially offset by lower sales in other parts of the world.
Daimler AG's headquarters in Germany. Photo: Daimler AG
Daimler AG, the German parent of Daimler Trucks North America, has reported higher third quarter profit and revenue, with record Mercedes-Benz auto sales and a booming North American truck market being partially offset by lower sales in other parts of the world.
Daimler AG recorded a net profit of 2.8 billion Euros, or $3.55 billion, compared to 1.9 billion Euros, or $2.41 billion, during the 2013 third quarter. Revenue increased year over year by 10%, to 33 billion Euros or $41.9 billion.
The company sold 637,400 cars and commercial vehicles worldwide during the quarter, 7% more than in the third quarter of last year. Mercedes-Benz cars made a major contribution, with the highest-ever quarterly unit sales in the company's history.
"Our strategy is paying off. We are growing profitably and look to the future with optimism also beyond the full year," said Dieter Zetsche, chairman of the board of management of Daimler AG and head of Mercedes-Benz cars. "In all our divisions, both the product offensives and the efficiency programs are taking effect. We are confident that we will achieve the targets we have set on a sustained basis."
Unit sales by Daimler Trucks continued to be affected by differing market and sales developments in the various regions, according to the company, and were slightly higher than in the third quarter of last year at 125,600 units.
Steady growth in demand for the division's products in North America led to strong sales growth of 25% to 43,900 units. In Western Europe, however, sales of 14,800 vehicles were 11% below the prior-year level. In Latin America, sales decreased by 23% to 12,500 units, but the division increased its market share. The 38,600 trucks sold in Asia was 6% lower than in the prior-year quarter.
Revenue for Daimler Trucks increased by 6% to 8.5 billion Euros, or $10.7 billion, while pre-tax profit of 588 million Euros, or $744 million, was also higher than the prior-year’s quarterly figure of 522 million Euros or $661 million.
More information can be found on the Daimler website.
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