BERLIN—Mercedes-Benz raised its full-year profit forecast on Wednesday as strong demand for luxury cars and cost savings offset the supply chain bottlenecks that have hampered industry output this year. The German automaker said it now expected group earnings to rise at least 15 percent this year, compared with a previous forecast of 5 percent–15 percent…
Mercedes-Benz Puts 5,600 Workers on Vacation in Brazil Due to Chips Shortage
SAO PAULO—Mercedes-Benz Group will put more than five thousand workers on collective vacation in two plants in Brazil due to the shortage of semiconductor chips, the company said on Monday. The production stoppage will happen from April 18 to May 3 and includes 5,000 employees in the Sao Bernardo do Campo plant and 600 in…
Electric and Luxury Models Boost Mercedes-Benz Earnings
BERLIN—Mercedes-Benz will prioritize sales of top-end and electric vehicles in 2022 and deepen its relationship with chip producers, the carmaker said on Thursday, seeking more control over its supply chain amid an ongoing semiconductor shortage. The Mercedes-Benz Cars & Vans division more than doubled its annual adjusted earnings before interest and taxes (EBIT) to 13.9…
Mercedes-Benz to Double EV Sales in 2022, Solidify Supplier Relationship
BERLIN—Mercedes-Benz aims to double its electric vehicle sales in 2022 and expand its electrified car footprint in relevant markets worldwide, Chief Executive Ola Kaellenius said on Thursday in an earnings press conference. Chief Financial Executive Harald Wilhelm listed a series of challenges the carmaker expected to face this year, including uncertain geopolitical developments, the ongoing…
Mercedes-Benz Beats Profit Forecast, Sees Supply Chain Headwinds in 2022
February 11, 2022
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BERLIN—Mercedes-Benz Cars & Vans expects an adjusted earnings before interest and taxes (EBIT) of 14 billion euros ($15.9 billion) in 2021 and sees supply chain headwinds persisting into 2022, it said on Friday. The luxury carmaker predicted an adjusted return on sales of 12.7 percent in the full year, beating its own guidance of 10…
Germany Clears Mercedes-Benz’s Hands-Free Drive System
BERLIN—Germany’s car watchdog has cleared Mercedes-Benz’s semi-autonomous driving system, paving the way for the Daimler AG subsidiary to begin offering its Drive Pilot system internationally. The highly automated system allows the driver to focus on other activities while a car equipped with the technology is in heavy traffic or on congested highways, Mercedes-Benz said in…
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