Strong sales of the new Mercedes-Benz E-Class sedans helped boost Daimler's third-quarter profits. Photo credit: Mercedes-Benz
German automaker Daimler (NASDAQOTH:DDAIF) reported third-quarter earnings of 1.84 billion euros, or just over $25 billion. That's a 61% increase over the 1.14 billion euros earned by Daimler in the third quarter of last year, a boost driven by record sales at Mercedes-Benz.
Mercedes has struggled in recent quarters as archrivals BMW (NASDAQOTH:BAMXF) and Audi have both outpaced the old luxury stalwart in terms of both profit margins and sales in key markets. But as Motley Fool senior auto analyst John Rosevear explains in this video, Daimler CEO Dieter Zetsche might finally have Mercedes-Benz moving in the right direction -- and that bodes well for Daimler's growth over the next few quarters.
Fool contributor John Rosevear owns shares of Ford. You can connect with him on Twitter at @jrosevear. The Motley Fool recommends BMW and Ford. The Motley Fool owns shares of Ford. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
