Daimler has reported third quarter earnings before interest and taxes up 16% to EUR2.23bn.
The company said that Mercedes-Benz Cars achieved a record level of unit sales in the third quarter of 2013. Total sales by the car division grew by 14% to 395,400 units with earnings up by 8% to EUR16.5bn and EBIT of EUR1,200m.
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The division’s return on sales was 7.3% (Q3 2012: 6.4%). Daimler said the development of earnings in the car division reflected the ongoing growth in unit sales, especially in China, the United States and Western Europe.
A major contribution came from the expanded range of compact cars such as the CLA.
“Our earnings continued improving in the third quarter, compared with the year to date and compared with the prior-year period. This shows that the high investments we have made were money well spent. We will continue to invest in products and production sites in order to secure the group’s sustainable medium and long-term success,” said Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars.
