Business

Mercedes-Benz maker Daimler enjoys profits boost

Mercedes car
Image caption Strong demand for Mercedes cars has boosted Daimler's results

Luxury car maker Daimler has reported record quarterly profits of 1.7bn euros ($2.5bn; £1.5bn) in the three months to 30 June.

The company said it had seen rising sales of Mercedes-Benz cars and also Daimler trucks.

Daimler predicted that its full-year sales would be "significantly more than 100bn euros".

However, sales of Mercedes in China slowed, with sales up 8% compared with growth of 82% in the previous quarter.

"Demand for cars in the major emerging markets of China, India, Brazil and Russia will probably continue to grow.

"But rates of growth in China and India are likely to be distinctly lower than last year," said Daimler chief executive Dieter Zetsche in a statement.

Despite the cooling China market, Mr Zetsche is confident Daimler group sales will grow.

He said: "We are fully on schedule to turn 2011 into one of the most successful years in our long corporate history.

"Daimler developed very dynamically in the second quarter in terms of unit sales, revenue and earnings.

"We are not at our limit. We can do more."

Daimler sold 527,600 cars and commercial vehicles in the second quarter, an increase of 6% on the prior year.

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