A good period for cars but not so good for trucks – that was the story from Daimler’s latest results.
Third-quarter operating profit was up by a better than expected 23 percent.
Mercedes did well thanks to sales of the new E-class and demand for sports utility vehicles.
That helps Daimler in its ambitions to overtake German rival BMW and claim the title of biggest selling luxury carmaker.
But there was falling demand for the company’s trucks in North America and a overall slump in sales in markets like Brazil.
As a result Daimler has had to lower its revenue forecast for this year.
The Stuttgart-based company’s shares slipped 2.09 percent on Friday.
Daimler profit beats forecasts on E-Class model sales https://t.co/fiqrNNeWqx 🔓— WSJ Europe (@WSJeurope) October 21, 2016