Mercedes-maker Daimler see profits rebound after lockdowns

Highly profitable cars such as the GLE and GLS sport-utility vehicles boosted earnings, as did the economic recovery in China, said CFO Harald Wilhelm.

The existing version of the S-Class luxury sedan also did well, even though it is being replaced by a new model, Mr Wilhelm said.

The company said it was raising its outlook for the year. It now expects full-year operating earnings to equal those from 2019, before the virus pandemic. Previously it said it expected to make a profit below last year’s total.

Quarterly net profit rose to 2.16 billion euros (£1.95 billion), up 19% on the same quarter a year ago — and improving on a net loss of 1.9 billion euros (£1.7 billion) from the second quarter during the worst of the lockdown.

Sales revenue fell 7% to 40.28 billion euros (£36 billion).