Higher Sales Prices Beneficial for Mercedes-Benz

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The German car group Mercedes-Benz benefited in the past quarter from higher sales prices and good sales of more expensive models.

 

As a result, the company was able to compensate for headwinds caused by, among other things, the chip shortages in the car industry and the war in Ukraine.

Turnover was 34.9 billion euros, compared to 32.9 billion euros a year earlier. According to Mercedes-Benz, 487,000 cars were sold worldwide in the first three months of this year, 10 percent less than a year earlier.

However, sales of delivery vans remained about the same at 88,500 units. At the end of last year, Mercedes-Benz divested its truck activities into the new Daimler Truck company.

By raising prices significantly and marketing more expensive models, the company also increased its profitability. As a result, gross profit rose by 11 percent to EUR 5.2 billion.

Furthermore, Mercedes-Benz announced that a write-off of 709 million euros had been put in the books due to the cessation of activities in Russia in connection with the war in Ukraine.

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