Mercedes-Benz plans to release its first-ever pickup as it seeks to broaden its range of luxury cars, parent company Daimler AG announced Friday.
The yet-unnamed vehicle is expected to be out by the end of the decade, with initial sales focused on Europe, Latin America, Australia and South America, Daimler says.
“The Mercedes-Benz pickup will contribute nicely to our global growth targets,” Daimler CEO Dieter Zetsche said in a statement. “We will enter this segment with our distinctive brand identity and all of the vehicle attributes that are typical of the brand with regard to safety, comfort, powertrains, and value.”
Mercedes’ pickup announcement comes as sales of midsize trucks are growing worldwide, the Wall Street Journal notes:
Global sales of such midsize trucks were 2.34 million vehicles last year, according to IHSAutomotive, a research group. The market is growing, but it isn’t booming. Sales are expected to rise to 2.83 million by 2020, says IHS.
Daimler said last month it expects strong future growth with heightening demand in China and the U.S. The company said operating earnings are slated to rise by over 10% in 2015 and sales by 5%. The company’s fourth quarter profits were up 10% year-over-year, reaching €2.82 billion, or $3.23 billion.