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Daimler Posts Record Sales, Profits for 2017
Daimler AG set record highs in 2017 for unit sales, revenue and net income. But it expects slower growth this year.
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Daimler AG reports it set record highs in 2017 for unit sales, revenue and net income. But the company cautions that growth will slow this year.
CEO Dieter Zetsche notes that increased demand for capital investments and product development, coupled with unfavorable exchange rates, will temper this year’s results.
Daimler’s r&d spending jumped 15% last year and will expand “slightly” in 2018, Zetsche says. The company adds that its capital investments, which rose 14% in 2017, will climb “significantly” this year. At the same time, growth in vehicle sales is expected to slow, and pretax earning will stall.
Last year, the company’s combined unit sales rose 9% to 3.3 million cars, vans and commercial vehicles. The Mercedes-Benz Cars division saw its sales climb 8% to 2.37 million cars and SUVs. The unit’s revenue rose 6% to €94.7 billion ($118.3 billion).
Daimler Trucks reports that demand for its commercial vehicles gained 13% to 470,700 units. Revenue grew 8% to €35.7 billion ($44.6 billion). Mercedes-Benz Vans hiked unit sales and revenue 12% to 401,000 units and €13.2 billion ($16.5 billion).
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