Mercedes exceeds expectations following EV sale surge
Mercedes has exceeded expectations, posting a €14bn EBITDA for the full 2021, according to preliminary results released today.
The automotive manufacturer is expecting an adjusted return on sales of approximately 12.7 per cent, beating its own guidance of between 10 and 12 per cent as a result of a surge in electric vehicles (EV).
“Our focus on profitable growth and cost discipline combined with a desirable product lineup translated into strong financial performance,” said chairman Ola Kallenius. “As the world’s most valuable luxury car brand we are accelerating toward an all-electric, software-driven future.”
Mercedes reported in early January that sales of battery-electric vehicles grew 90 per cent in 2021, even though total production went down 5 per cent. Electric vans were especially sought after as sale numbers doubled compared with 2020 levels.
“In 2021 we were able to achieve a remarkable result for Mercedes-Benz Vans despite the impact from several pandemic-induced challenges,” said Klaus Rehkugler, head of marketing and sales at Mercedes-Benz Vans. “Customer demand remains consistently high and our order intake for commercial and private all-electric vans is ever increasing.”