© Reuters. FILE PHOTO: The Mercedes Benz star is seen on the bonnet of a new Mercedes-Benz S-Class limousine at the company’s test center, near Immendingen, Germany October 14, 2020. REUTERS/Arnd Wiegmann/File Photo
BERLIN (Reuters) – Mercedes-Benz raised its forecast for adjusted return on sales for the full year to 13-15% for its cars division from 12-14% as third quarter earnings rose to 5.2 billion euros ($5.18 billion), the company said on Wednesday.
Group revenue in the third quarter was up by a fifth to 37.7 billion euros, with adjusted returns of 14.5% for the cars division and 12.7% at Mercedes-Benz Vans.
Mercedes-Benz Vans now expects returns of 9-11% from 8-10% previously after seeing sales rise to 104,000 vehicles in the third quarter from 88,000 last year, with electric van sales up by a third this year so far.
($1 = 1.0047 euros)
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