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Mercedes- Benz has increased its net profit by 34% in 2022, to 14.8 billion euros. However, the German manufacturer remains cautious for the new year, forecasting stable revenues and a slightly lower operating profit.
“The good results underline the improvement in profitability, even though the COVID-19 pandemic, shortages in the semiconductor supply chain, as well as the impact of Russia’s war on Ukraine continued to affect business,” the car brand said in a press release.
Mercedes-Benz’s operating profit rose 28 % to 20.4 billion euros, exceeding the estimates of analysts surveyed by Facset (a financial data management company). They were expecting a profit of 19.6 million euros.
The adjusted margin of its Cars division reached 14.6 percent, 1.5 percentage points higher than the previous year and in line with the group’s targets.
Overall, the premium car brand sold more than two million vehicles in 2022, up 5% from 2021. These were driven by the premium segment (+8%) and in particular by the S-Class model (+6%) . In 2022, more than 19,000 vehicles of this model were delivered to customers, with strong demand from the US.
Sales of Mercedes-Maybach, the most luxurious segment, where the price of a car is around $ 268,000, have reached records with an increase of 41%.
In addition, the German brand sold no fewer than 149,227 electric cars, an increase of 67%. Despite a difficult context for the automotive industry, notably affected by supply problems and rising raw material costs, sales of battery-electric cars rose by 24 percent in 2022, in the five main European markets.
Successful year in 2022
Mercedes finished the year strong, with profit up 63% in Q4, due to the improving economic situation and the beginning of a (near) return to normalcy in supply chains. Partnerships with new suppliers and the impact of the inflation bonus for employees in Germany “led to slight headwinds” in the last quarter, the group said.
The year 2022 also saw a new beginning with the split of the Daimler Group into Mercedes-Benz on one side and Daimler Truck on the other, the heavy-duty truck leader with more than 520,000 vehicles delivered in 2022.
In this new context, the year 2023 looks promising. The manufacturer expects an operating margin of between 12 and 14%.
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Mercedes- Benz has increased its net profit by 34% in 2022, to 14.8 billion euros. However, the German manufacturer remains cautious for the new year, forecasting stable revenues and a slightly lower operating profit.
“The good results underline the improvement in profitability, even though the COVID-19 pandemic, shortages in the semiconductor supply chain, as well as the impact of Russia’s war on Ukraine continued to affect business,” the car brand said in a press release.
Mercedes-Benz’s operating profit rose 28 % to 20.4 billion euros, exceeding the estimates of analysts surveyed by Facset (a financial data management company). They were expecting a profit of 19.6 million euros.
The adjusted margin of its Cars division reached 14.6 percent, 1.5 percentage points higher than the previous year and in line with the group’s targets.
Overall, the premium car brand sold more than two million vehicles in 2022, up 5% from 2021. These were driven by the premium segment (+8%) and in particular by the S-Class model (+6%) . In 2022, more than 19,000 vehicles of this model were delivered to customers, with strong demand from the US.
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Mercedes- Benz has increased its net profit by 34% in 2022, to 14.8 billion euros. However, the German manufacturer remains cautious for the new year, forecasting stable revenues and a slightly lower operating profit.
“The good results underline the improvement in profitability, even though the COVID-19 pandemic, shortages in the semiconductor supply chain, as well as the impact of Russia’s war on Ukraine continued to affect business,” the car brand said in a press release.
Mercedes-Benz’s operating profit rose 28 % to 20.4 billion euros, exceeding the estimates of analysts surveyed by Facset (a financial data management company). They were expecting a profit of 19.6 million euros.
The adjusted margin of its Cars division reached 14.6 percent, 1.5 percentage points higher than the previous year and in line with the group’s targets.
Overall, the premium car brand sold more than two million vehicles in 2022, up 5% from 2021. These were driven by the premium segment (+8%) and in particular by the S-Class model (+6%) . In 2022, more than 19,000 vehicles of this model were delivered to customers, with strong demand from the US.
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