Daimler delivered well above expectations in Q1, with volumes benefiting from the solid Chinese demand but also from the outperformance of the premium segment overall. With a product mix led by SUVs and higher-end luxury cars, margins were also exceptionally strong, leaving the FY targets in the dust. No surprise then that management has upped its automotive division profitability targets for the year, seeing a continuation of the strong momentum shown since H2 20.
29 Apr 2021
A blockbuster Q1 21 lifts FY outlook
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A blockbuster Q1 21 lifts FY outlook
Daimler delivered well above expectations in Q1, with volumes benefiting from the solid Chinese demand but also from the outperformance of the premium segment overall. With a product mix led by SUVs and higher-end luxury cars, margins were also exceptionally strong, leaving the FY targets in the dust. No surprise then that management has upped its automotive division profitability targets for the year, seeing a continuation of the strong momentum shown since H2 20.