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Daimler Hikes Sales, Profits
Daimler AG's operating profit jumped two-thirds to €3.7 billion in the third quarter of 2014.
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Daimler AG's operating profit jumped two-thirds to €3.7 billion in the third quarter of 2014. Revenue climbed 10% to €33.1 billion.
Net profit for the company in July-September surged to €2.8 billion from €1.9 billion. Vehicle sales climbed 7% to 637,400 units, led by a 9% increase to an any-quarter record 431,000 for Mercedes-Benz Cars.
Earnings before interest and taxes from ongoing business advanced 21% to €2.79 billion. Net liquidity rose to €1.9 billion from €13.8 billion in the third quarter of 2013.
Daimler's commercial truck unit reported flat sales of 125,600 units. A 25% gain in North America was offset by drops of 11% in western Europe, 23% in Latin America and 6% in Asia.
Mercedes-Benz Vans sales grew 11% to 72,200 vehicles in the quarter, led by gains for 19% in western Europe and 18% in the U.S.
Daimler predicts overall global demand for passenger vehicles will rise only 3% this year. It expects Mercedes to post record-high sales in 2014. The company anticipates a slight increase for its commercial truck volume and significant full-year growth for its van business.
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