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MERCEDES-Benz will try to develop the high-end luxury vehicle segment as a way to increase sales and profits.
According to Daimler AG CEO Ola Kaellenius said I saw the strongest growth at the top end of the segment in which we were active. Daimler had previously signaled recovering demand for luxury Mercedes-Benz models and electric vehicles, prompting him to send his shares higher.
“The Mercedes-Benz car and van division is likely to increase in operating profit 2020. We are now seeing the first signs of sales recovery especially in Mercedes-Benz passenger cars,” he said.
He added, Daimler shares rose 5.5% at 41.32 Euros. The increase in shares occurred because Daimler confirmed the second quarter results released last week, including revenue down 30% and a loss of EBIT 1.68 billion euros (US$1.95 billion). [antaranews]
