Mercedes was catching up with its German peers in the second quarter with its EBIT profit margin of 10.7 per cent.
Audi managed 12.9 per cent in the quarter. BMW was reporting its results in early August.
Daimler EBIT earnings rose in the second quarter to €2.58 billion from €2.1 billion a year earlier.
“With the new M-class, face-lifted C-class and the new B-class we believe model momentum should remain positive through the second half,” said Commerzbank’s Daniel Schwarz.
UBS Investment Research analyst Philippe Houchois raised his EBIT target for 2011 to €9.5 billion and to €10.5 billion for 2012.
It’s not very grammatical, but telling, to know that according to Citigroup Global Markets auto analyst John Lawson, Daimler has now inserted the word “very” in its forecast, as in “very” significantly higher EBIT for 2011.
Neil Winton – August 1, 2011
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