(ANSA-AFP) – ROME, APRIL 27 – The increase in sales prices allowed Mercedes-Benz to slightly increase profits in the first three months of the year, despite the shortage of semiconductors and the fallout from the war in Ukraine. This was explained by the automaker by announcing that it had recorded a net profit of 3.6 billion euros in the period from January to March, with an increase of 3% compared to the same period last year. Operating profit increased 11% to € 5.2 billion with a 6% increase in revenues to € 35 billion.
The Stuttgart-based automaker said the results were bolstered by “an increased focus on high-end vehicles and premium vans, combined with continued cost discipline, even as the pandemic, bottlenecks in the supply chain. Semiconductor procurement and the war in Ukraine continued to impact business. ” Auto sales fell 10% to around 487,000. (ANSA-AFP).
Source: Ansa
I have been working in the news industry for over 10 years now and I have worked for some of the biggest news websites in the world. My focus has always been on entertainment news, but I also cover a range of other topics. I am currently an author at Global happenings and I love writing about all things pop-culture related.
