Daimler AG, the third-biggest luxury cars manufacturer in the world, reported a significant rise in monthly sales of its premium Mercedes-Benz brand, keeping on track to log a record sales figure this year.
The Stuttgart-based manufacturer reported an increase of 9.7% on an annual basis in worldwide sales to 118 887 in August, also logging year-to-date total sales of 1.03m, an increase by 12.3%.
“August was a very successful month for the Mercedes-Benz brand. We continue to be on course to make 2014 another record year.” Ola Källenius, head of marketing and sales at Mercedes-Benz, said. “The launch of the new C-Class sedan in China and the US, its largest markets, will add further sales momentum.”
The surge in sales was led by a 15.8% growth to 37 591 in the Asia-Pacific region, with a massive 18.3% increase to 21 398 units in China. Sales in Europe were up 4.8%, while the US was 9.4%.
Sales figures, especially in China, come despite Mercedes-Benz, alongside several other major carmakers, being found guilty last month over spare-part price manipulation in China, with a possible fine amounting to 10% of the companys revenue for the previous year.
Daimler is heading for sizable annual growth this year, as it has targeted the lead spot in the premium sector. The Mercedes-Benz brand, Daimlers premium, is currently lagging behind German rivals BMW and Volkswagens Audi in worldwide sales.
Daimler AG was up 1.37% to trade at €65.02 (~$84.62), logging a one-year increase of 20.01% and valuing the company at €69.57bn (~$90.54bn). As of yesterday, before the sales report, 30 Financial Times analysts offering 12-month price forecasts Daimler AG have a median target of €75.00, with a high estimate of €86.00 and a low estimate of €57.90.
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