On Tuesday, German auto group Daimler AG said that it took a good start in 2015 as the company’s sales and profits surged strongly in the first three months.
The maker of Mercedes-Benz said that its net profit during the period from January to March rose to 2.05 billion euros ($2.23 billion) from 1.086 billion in the same quarter a year ago. Operating profit grew 63% to 2.906 billion euros on a 16% increase in revenues to 34.236 billion euros.
The overall revenue of the company rose to 16% percent during the quarter to 34.2 billion euros. The improvement in sales has been noticed after the company invested in renewing its model line, including a new C-Class sedan. It also expanded range of smaller vehicles.
Daimler witnessed strong sales for Mercedes in the US, China, Japan, Western Europe, and Britain. It was also able to command stronger prices from customers especially in the US and China. On a global scale, the Mercedes brand grew sales 18% to 459,700 vehicles, a record for the first quarter.
Company’s CEO Dieter Zetsche said, “We made a very good start to the year 2015 and continued along our successful path with record levels of unit sales, revenue and (operating profit) in the first quarter”.
He added that their growth strategy, our product offensives and our efficiency programs are yielding the return. Now they are looking with great confidence and aim to achieve more.
The company expects revenues to increase significantly in 2015. The strongest growth is anticipated in Asia and North America. However, business volumes should expand also in the other regions.
The company also said on the basis of the anticipated market development and the planning of the divisions, the operating profit will also increase.