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Earnings

Daimler says expects Mercedes to post positive first quarter margin

FILE PHOTO: The Mercedes-Benz logo is seen on a car in front of the Mercedes-Benz Museum in Stuttgart, Germany February 11, 2020. REUTERS/Andreas Gebert

FRANKFURT (Reuters) - Daimler DAIGn.DE expects to post a positive margin on Mercedes-Benz passenger cars and vans in the first quarter, thanks to rebounding sales in China and solid demand in the United States, Chief Financial Officer Harald Wilhelm said on Wednesday.

Sales of Mercedes-Benz passenger cars in March in the United States showed no corona impact thanks to demand for sports utility vehicles, Wilhelm said, adding that sales in China had rebounded.

“We see early signs of a recovery in China. Group sales returned to 60,000 units, almost at prior year levels in March,” Wilhelm said, adding that production had returned to a two shift system at Daimler’s plant in Beijing.

Reporting by Edward Taylor, editing by Thomas Escritt

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