Mercedes profits rise as prices and demand for luxury models increase

Increased customer demand for luxury models and increased prices led to an increase in the profits of the German "Mercedes-Benz" group of luxury cars last year.

And the company announced at its headquarters in Stuttgart today, Saturday, during the launch of its annual profit report, that revenues increased by 12% to 150 billion euros in 2022, up from 133.8 billion euros in the previous year.

Earnings attributable to shareholders from continuing operations grew to 14.5 billion euros, or to 13.55 euros per share, from 10.7 billion euros, or 10 euros per share, a year earlier.

Mercedes profits rise as prices

The German luxury automaker increased its sales by 12% in 2022. The company delivered slightly fewer cars to retail customers, but wholesale sales rose about 5%.

Sales of luxury models such as the S-Class, cars from the high-performance subsidiary AMG, and the luxury brand Maybach rose.

As a result, the Group's annual profit before interest, taxes, and special factors increased by 20% to €20.66 billion.

The company's board of directors is anticipated to recommend a dividend increase from 5 euros per share last year to 5.2 euros per share.

For 2023, Mercedes announced that group sales are expected to be at the level of the previous year.

Billions of euros in private income after the break-up of the Daimler Truck business increased the group's profits in 2021 to more than 23 billion euros.


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