Mexican Media Brands
Daimler Sales Up, Profits Down
Daimler AG hiked its revenue and unit sales in 2018 by 2% each to €167.4 billion ($190.5 billion) and 3.4 million passenger vehicles and commercial trucks, respectively.
#economics
Share
Daimler AG hiked its revenue and unit sales in 2018 by 2% each to €167.4 billion ($190.5 billion) and 3.4 million passenger vehicles and commercial trucks, respectively.
But the company’s net profit slid 28% to €7.6 billion ($8.6 billion) from €10.6 billion in 2017, when a one-time U.S. tax windfall boosted results by €1 billion. Earnings before interest and taxes last year shrank 22% to €11.1 billion ($12.6 billion).
CEO Dieters Zetsche blames last year’s sagging results on headwinds that included global trade issues, the European Union’s new emission test protocol and continuing legal and regulatory skirmishes over diesels.
A 9,300-unit gain in 2018 resulted in a record-high 2.38 million vehicle deliveries for the company’s Mercedes-Benz brand. Sales jumped 10% to a record 517,300 vehicles for Daimler Trucks. Sales of commercial vans rose 5% to a record 421,400 units, the fifth record high in as many years.
Daimler predicts modest or no growth in unit sales and revenue this year. The company expects “slight” growth in EBIT.
RELATED CONTENT
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.