Search
GERMANY-AUTO-RESULTS-DAIMLER
Dieter Zetsche, CEO of German auto giant Daimler AG, poses during the company's annual press conference in Stuttgart, southwestern Germany, on February 5, 2015.  Thomas Kienzle — AFP/Getty Images

Daimler CEO Is Optimistic About Reaching Profit Goal

Oct 12, 2016

Daimler (ddaif) expects to hit targets for a small increase in earnings this year, Chief Executive Dieter Zetsche said, counting on "profitable growth" at its flagship luxury cars division.

Daimler has forecast the group's adjusted full-year operating profit (EBIT) to slightly beat 2015 levels, with higher earnings at Mercedes-Benz cars, vans and bus operations seen offsetting a decline in trucks.

Sales of Mercedes-Benz branded cars jumped 12% in September to 211,286 vehicles, the unit's best-ever monthly result, with nine-month deliveries up by the same margin to a record 1.54 million.

For more on Daimler, watch Fortune's video:

"We are on a very good track," Zetsche told a gathering of reporters in Hamburg late on Tuesday. "I can confirm that our guidance is valid."

Mercedes-Benz is "within reach" of its goal to become the leading premium automaker in terms of volume and profitability by 2020, Zetsche said, as the Stuttgart-based manufacturer looks set to outsell German rivals BMW and Audi this year.

All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions