Daimler forecasts China sales of more than 300,000 vehicles in 2015
Daimler AG predicted higher profit this year, lifted by stronger demand in China, where first-time buyers often opt for an upscale car.
The German automaker, the world's third-largest maker of luxury vehicles, predicted it will sell "significantly" more than 300,000 Mercedes-Benz and Smart cars in China this year. That would be at least 6.5 percent more than in 2014, when the company delivered 281,600 autos.
"Of course China is not a country of unlimited potential, but it does offer us tremendous opportunities," CEO Dieter Zetsche said in a statement ahead of the company's annual shareholders meeting in Berlin. "It's remarkable how many Chinese customers already buy a premium model as their first automobile."
Economic stimulus in China, the world's biggest car market, may boost demand for new vehicles. That could given an extra lift to Daimler, which grew faster there than rivals last year after restructuring operations in the country and rolling out new models. BMW AG has said demand in the country is becoming "more normal."
Mercedes needs to catch up to BMW and Volkswagen AG's Audi in China to achieve the company's goal of regaining the top spot globally by the end of the decade. In China, Audi ranks first in deliveries of luxury autos, while BMW is second.
Buoyed by new Mercedes models like the CLA Shooting Brake compact wagon and stronger demand for heavy trucks, Daimler is forecasting that both revenue and operating profit will rise significantly this year.
The company, which is also the world's biggest truckmaker, said Wednesday that it plans to boost profitability in the medium term, targeting a 9 percent return on sales after generating a margin of 7.8 percent in 2014.
"Of course China is not a country of unlimited potential, but it does offer us tremendous opportunities," CEO Dieter Zetsche said in a statement ahead of the company's annual shareholders meeting in Berlin. "It's remarkable how many Chinese customers already buy a premium model as their first automobile."
Economic stimulus in China, the world's biggest car market, may boost demand for new vehicles. That could given an extra lift to Daimler, which grew faster there than rivals last year after restructuring operations in the country and rolling out new models. BMW AG has said demand in the country is becoming "more normal."
Mercedes needs to catch up to BMW and Volkswagen AG's Audi in China to achieve the company's goal of regaining the top spot globally by the end of the decade. In China, Audi ranks first in deliveries of luxury autos, while BMW is second.
Buoyed by new Mercedes models like the CLA Shooting Brake compact wagon and stronger demand for heavy trucks, Daimler is forecasting that both revenue and operating profit will rise significantly this year.
The company, which is also the world's biggest truckmaker, said Wednesday that it plans to boost profitability in the medium term, targeting a 9 percent return on sales after generating a margin of 7.8 percent in 2014.
