Mercedes-Benz beats profit forecasts as EV sales surge

Mercedes-Benz Cars & Vans has said in its release of preliminary results that it expects an adjusted EBIT of 14 billion euros ($15.94 billion) in 2021.

The luxury carmaker predicted an adjusted return on sales of 12.7% in the full year, beating its own guidance of 10-12% as the jump in EV sales made up for supply chain troubles.

Data released by Mercedes-Benz last month showed sales of battery-electric vehicles grew over 90% in 2021 even as total sales fell 5%, as the carmaker prioritised higher-value cars in the face of semiconductor shortages.

The fourth quarter saw an adjusted return on sales of 15%, the company said.

Mercedes-Benz expects the deconsolidation from Daimler Truck to boost its EBIT by 9 to 10 billion euros.

Mercedes-Benz is due to report full-year results on Feb. 24.

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