Mercedes Sees Order Book Supporting Sales in Slowing Economy
- CFO flags potential upgrade to vehicle delivery guidance
- Carmaker moving model lineup upmarket to bolster margins
The company last week released preliminary earnings showing a 14.8% return on automaking sales in the first quarter, topping analyst estimates.
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Mercedes-Benz AG said its order backlog will support sales in the coming months in a subdued global economy where demand in Europe is falling behind strong US and Chinese markets.
The luxury-car maker, which has been focusing on selling more of its higher-end cars, expects automaking margins at the upper end of its forecast range, it said Friday. Mercedes has forecast a return between 12% and 14% this year, down from 14.6% in 2022.