FRANKFURT – German luxury carmaker Mercedes-Benz said today its net profits in the third quarter doubled year-on-year, to almost €4 billion (RM18 billion), driven by better sales in China.
Despite continued problems with supply chains, the company saw revenues increase by 19%, to €37.7 billion.
Incentives from the Chinese government to encourage people to buy cars helped to boost car sales in the company’s biggest market, Mercedes said.
The group’s vehicle sales in China – its biggest market – rose to 222,600 in the third quarter, an increase of almost 70% on the same period a year earlier.
In contrast, the group sold just 146,100 vehicles in Europe, it said. – AFP, October 26, 2022
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