Mercedes-Benz raises outlook for vehicles division to 13-15% By Reuters

BERLIN (Reuters) -Mercedes-Benz raised its forecast for adjusted return on gross sales for the total yr for its vehicles division to 13-15% from 12-14% as third-quarter earnings rose to five.2 billion euros ($5.18 billion), the corporate stated on Wednesday.

It now expects full-year earnings for the group to be “considerably above” final yr’s ranges, it stated, translating into a rise of at the least 15%.

Group income within the third quarter was up by a fifth to 37.7 billion euros, with adjusted returns of 14.5% for the vehicles division and 12.7% at Mercedes-Benz Vans.

Mercedes-Benz Vans now expects returns of Sep 11% from 8-10% beforehand after seeing gross sales rise to 104,000 autos within the third quarter from 88,000 final yr, with electrical van gross sales up by a 3rd this yr to date.

Prime-end luxurious gross sales lifted revenues, making up 15% of total vehicles gross sales within the third quarter.

The posh car maker, which noticed gross sales rise by a fifth within the third quarter bolstered by loosened coronavirus restrictions in China, cautioned that prime inflationary stress and ongoing provide chain bottlenecks made the outlook harder.

Nonetheless, it anticipated barely greater gross sales within the fourth quarter than final yr, Wednesday’s assertion stated.

($1 = 1.0047 euros)