German automaker Daimler posts 8 percent rise in Q2 earnings

AP News
Posted: Jul 23, 2015 5:05 AM
German automaker Daimler posts 8 percent rise in Q2 earnings

BERLIN (AP) — German automaker Daimler's net profit rose 8 percent in the second quarter, boosted by strong sales at its core Mercedes-Benz brand, the company said Thursday.

Daimler AG said net profit for the April-June period rose to 2.372 billion euros ($2.59 billion) from 2.196 billion euros a year earlier.

Sales were up 14 percent, with 714,800 passenger cars and commercial vehicles sold. Revenue rose to 37.5 billion euros from 31.5 billion euros, a 19 percent increase.

Daimler said the Mercedes-Benz cars unit had its best quarter so far for unit sales, with growth of 20 percent to 500,700 vehicles sold.

That helped offset drops in the smaller Daimler truck and bus units, whose sales declined 1 percent to 125,100 vehicles and 9 percent to 7,300 vehicles respectively. The Daimler group's other unit, Mercedes-Benz vans, posted a 7 percent increase in sales to 81,600 vehicles sold.

Through the first half of 2015, Daimler's net profit is up 35 percent over the same period last year to 4.422 billion euros, and board member Bodo Uebber said the company is "on the right track to fulfill our forecasts for the year 2015."

Daimler shares were down slightly in Frankfurt trading, slipping 0.3 percent to 84.01 euros.