Mercedes Sticks to Outlook, Proceeds With €2 Billion Buyback

Mercedes-Benz Group AG confirmed its annual outlook and plans to proceed with a €2 billion ($2.3 billion) share buyback after the company’s automaking margin climbed in the third quarter.

Adjusted return on car sales rose to 4.8% in the period, within the range the manufacturer sees for the full year. The buyback will happen over a period of 12 months, Mercedes said Wednesday. The move suggests the luxury-car maker is confident in its cash generation even as it faces rising competition and trade hurdles.