Mercedes sales boost Daimler profits

GERMAN car maker Daimler AG says net profit rose 53 per cent in the third quarter, helped by stronger performance from its luxury brand, Mercedes-Benz.

Net income rose to 1.90 billion euros ($A2.74 billion) from 1.24 billion euros in the same period a year ago. Revenue rose 5 per cent to 30.1 billion euros.

The company on Thursday credited an expanded range of compact cars that helped boost sales. Mercedes sold 8 per cent more cars in the period and raised its operating earnings by 23 per cent to 1.20 billion euros.

CEO Dieter Zetsche said in a statement that “this shows the high investments we have made were money well spent.”

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