Daimler earns $3 billion in first quarter on strong China sales
 

<p>Filed under: <a href="http://www.autoblog.com/category/china/" rel="tag">China</a>, <a href="http://www.autoblog.com/category/mercedes-benz/" rel="tag">Mercedes-Benz</a>, <a href="http://www.autoblog.com/category/earnings-financials/" rel="tag">Earnings/Financials</a></p><img alt="Mercedes-Benz logo" src="http://www.blogcdn.com/www.autoblog.com/media/2011/04/18mbgl350btreview2010.jpg " style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; margin-left: 0px; margin-right: 0px; margin-top: 4px; margin-bottom: 4px; " /><br />
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<a href="http://www.autoblog.com/tag/daimler/">Daimler</a> has announced a very strong pre-tax profit of $3 billion for the first quarter of 2011, up significantly compared to its Q1 2010 profit of $1.76 billion. The hefty earnings come as <a href="http://www.autoblog.com/make/mercedes-benz">Mercedes-Benz</a> sales shot up 13 percent, while revenue jumped by 17 percent to $37 billion on the quarter. Post-tax earnings came in at $1.75 billion, nearly doubling 2010 totals.<br />
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A sales increase of 13 percent and with revenues up 17 percent, it's safe to say that Daimler is selling more expensive Mercedes-Benz models these days. The automaker says <a href="http://www.autoblog.com/model/s-class">S-Class</a> sales are up by 25 percent, due mainly to demand in China, while overall sales in the People's Republic are up 78 percent versus Q1 2010.<br />
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Daimler is looking to move 1.3 million Mercedes-Benz and <a href="http://autoblog.com/make/smart">Smart</a> models in 2011, up slightly from sales of 1.28 million in 2010. But by 2015 the automaker plans to bump sales to 1.5 million units in part because of <a href="http://www.autoblog.com/tag/a-class">A-Class</a> and <a href="http://www.autoblog.com/tag/b-class">B-Class</a> variants that will begin hitting the market this year. <a href="http://www.autoblog.com/2011/04/29/daimler-earns-3-billion-in-first-quarter-on-strong-china-sales/#continued">Hit the jump</a> to read over the Daimler press release.<br />
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[Source: Daimler | Image: Michael Harley/AOL]<p><a href="http://www.autoblog.com/2011/04/29/daimler-earns-3-billion-in-first-quarter-on-strong-china-sales/" rel="bookmark">Continue reading <em>Daimler earns $3 billion in first quarter on strong China sales</em></a></p><p style="padding:5px;backgr ound:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.autoblog.com/2011/04/29/daimler-earns-3-billion-in-first-quarter-on-strong-china-sales/">Daimler earns $3 billion in first quarter on strong China sales</a> originally appeared on <a href="http://www.autoblog.com">Autoblo g</a> on Fri, 29 Apr 2011 10:01:00 EST. Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.autoblog.com/2011/04/29/daimler-earns-3-billion-in-first-quarter-on-strong-china-sales/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/forward/19927621/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/2011/04/29/daimler-earns-3-billion-in-first-quarter-on-strong-china-sales/#comments" title="View reader comments on this entry">Comments</a>

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