Mercedes-Benz Cars posted more than €2 billion (£1.7bn) in gross profit during the third quarter of 2022, as its return on sales (RoS) almost doubled over the same period last year.
The firm’s adjusted RoS reached 14.5% in Q3 of 2022, a significant improvement on the 8.8% recorded in Q3 of 2021. Mercedes expects this to hold firm between 13% and 15% through Q4, despite the global economic uncertainty.
This was in part attributed to a strong mix of models sold, as well as improved net pricing.
The German firm sold some 530,000 cars during Q3 of 2022, an improvement of 38% over the same period in 2021.
This broke down into 79,000 high-end luxury vehicles such as the Mercedes-Benz EQS; 293,000 ‘core’ luxury cars such as the Mercedes-Benz E-Class; and 158,000 ‘entry’ cars, such as the Mercedes-Benz A-Class and those from Smart.
Performance division Mercedes-AMG primarily drove the improvement in high-end sales, improving from 31,000 in Q3 of 2021 to 36,000 in the same period this year. The EQS and EQS SUV launches also played a small role in this growth.
Of note was that Mercedes almost its doubled battery-electric car sales compared with Q3 of 2021, from 19,000 to 37,000.
It was also a strong quarter for Mercedes-Benz Vans, its sales increasing by 18% to 104,000. It made €258 million (£223m) in gross profit.
However, Mercedes-Benz Mobility was less successful, its earnings before interest and tax (EBIT) down 39% compared with Q3 of 2021 to €577 million (£500m).
The value of the new business was also 3% lower than in Q3 of 2021, falling from €14.6bn (£12.7bn) to €14.3bn (£12.4bn).
On the whole, the Mercedes-Benz Group generated €37.7bn (£32.6bn) in revenue during Q3 of 2022 – up 19% over the same period last year.
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