Tags: EU | Germany | Earns | Daimler

Luxury Cars and Vans Help Shore up Daimler's Profits

Thursday, 24 October 2019 04:38 AM EDT

FRANKFURT, Germany (AP) — Germany's Daimler AG, the maker of Mercedes-Benz cars, says stronger sales of luxury cars and higher profits in its van business helped shore up third-quarter profits.

The company said Thursday that its third-quarter net profit rose by a modest 3% from the year before to 1.81 billion euros ($2.02 billion). That was ahead of analyst estimates of 1.68 billion euros as compiled by financial information provider FactSet.

Though overall revenues rose 8% to 43.27 billion euros, the company said profit margins at the Mercedes luxury car division declined to 6% from 6.3%.

CEO Ola Kallenius warned that the company would need to "significantly reduce" costs in order to stay on top of the industry's shift toward electric cars and other new technology.

© Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
Germany's Daimler AG, the maker of Mercedes-Benz cars, says stronger sales of luxury cars and higher profits in its van business helped shore up third-quarter profits.The company said Thursday that its third-quarter net profit rose by a modest 3% from the year before to...
EU,Germany,Earns,Daimler
125
2019-38-24
Thursday, 24 October 2019 04:38 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© 2025 Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved