Daimler, the maker of Mercedes-Benz cars and trucks, put the pedal to the medal in the third quarter, reporting record car-unit sales and revenue and bringing good news to the German auto industry in the wake of the Volkswagen emission scandal.
The Stuttgart-based automaker sold 720,000 cars and commercial vehicles between July and September, up 13 percent from the same period the year before. Mercedes cars had their strongest quarter to date with unit sales of 508,400, up 18 percent.
New sports utility vehicles, or SUVs, and premium compact sports cars have been a hit with consumers. The division’s strong performance, the company said, was also due to competitive pricing and strong demand for its C-Class sedans.
The only blemish in an otherwise impressive third-quarter performance was a 14-percent dip in net profit to €2.42 billion, down from €2.82 billion in the same period last year, though the year-ago quarter was boosted by the sale of a stake in Rolls-Royce Power Systems. Adjusted earnings – stripping out one-time effects – actually rose year-over-year.
Daimler’s share price dipped on the opening of trading Thursday but recovered by the early afternoon, trading up 0.34 percent at €73.79 by 12:30 local time in Frankfurt.