Mercedes Benz announced an adjusted return on sales of 14.8% in the first quarter on Thursday, above market expectations, driven by rising prices and strong demand.
“Mercedes-Benz delivered an adjusted return on sales of 14.8%, thanks to healthy net prices, increased sales and a good product mix,” the automaker said in a statement.
Analysts had expected an adjusted average return on sales of 13.4%.
Group profits in the first quarter, before interest and taxes, amounted to 5.5 billion euros and adjusted profitability and industrial free cash flow stood at 2.2 billion euros.
Mercedes-Benz reported earlier this month a 3% increase in global sales, and Europe posted the highest growth at 8%, driven by electric vehicles (EVs) and premium cars.
