Mercedes-Benz Optimistic On Increased Demand In China And The US
Mercedes-Benz released its first-quarter results on Friday, indicating increased demand in China and the United States. The company struck a positive note, reporting that the markets in these countries were showing signs of recovery from inflationary and supply chain shocks. The carmaker also expects the demand to pick up in Europe as consumer confidence rebuilds in the coming months. Improved Return on Sales Despite the warning issued in February that the company expects lower earnings this year, the first-quarter results were impressive according to Reuters. The carmaker reported group earnings of €5.5 billion ($6.06 billion). The annual adjusted return on sales at its vans division also increased from 9%-11% to… Continue Reading »