Mercedes-Benz Was Expecting Good Sales This Year, But…”

Mercedes-Benz had previously said it expected just marginally higher revenue this year and profit equivalent to the year before. Be that as it may, because of the conflict in Ukraine, high inflation, interest rate rises, and the pandemic, especially in China, this could burden the business.

The firm reported on Wednesday July 27 an 8% jump in second-quarter adjusted earnings to 4.9 billion euros ($4.97 billion).

Nonetheless, request books were full and Mercedes-Benz Cars was supposed to see a slight increase in sales, it said, with the top-end luxury segment forecast to grow over 10%.

Passenger vehicle registrations in Europe have seen a year decline as supply-chain troubles and rising prices weigh on sales, but luxury carmakers able to prioritize top-end vehicles have broadly proved more resilient as wealthier customers continued to spend.

Benz saw a changed profit from sales of 14.2% in the Mercedes-Benz Cars division, up from 12.8% in a similar quarter last year, while returns in Vans fell somewhat to 10.1% from 11.4% last year.

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Looking forward, it raised its normal changed profit edge for its Cars division in the last part to 12-14% from 11.5-13% beforehand.

The first half saw a 15% margin, yet higher material costs, research and development spending and effects from the used car market could weigh on the second half.

Addressing concerns over how German industry will manage gas consumption in the event of further cuts to supply from Russia, Mercedes-Benz said it could reduce its intake in Germany by 50% if regional pooling took place and had found a way to operate the paint shop in its Sindelfingen plant without gas in an emergency.

Credit: CNBC

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