German automaker Mercedes-Benz today reported that turnover increased in the first half of the year to €71,298 million (+61TP2Q) and operating profit to €9,851 million (+91TP2Q).

Mercedes-Benz posted net profits of €6,784 million in the first half, up 3% from a year ago, thanks to strong demand in Europe, the US and China, sales of more expensive models and cost discipline.

German automaker Mercedes-Benz today reported that turnover increased in the first half of the year to €71,298 million (+61TP2Q) and operating profit to €9,851 million (+91TP2Q).

Mercedes-Benz Group Chief Executive Officer (CEO) Ola Källenius said they are facing "complex macroeconomic and geopolitical challenges with more caution and resilience."

Quoted by Lusa, Källenius believes that the company has "good reasons to look to the future with confidence due to strong demand and product innovation.

The operating profitability on sales of passenger car manufacturer Mercedes-Benz Cars was 14.2% in the second quarter, and Mercedes-Benz Vans was 10.1%, despite problems resulting from the pandemic, continued bottlenecks in semiconductor supply, and the effects of the war in Ukraine.

The Mercedes-Benz group has managed to offset falling sales due to semiconductor shortages and rising raw material costs with more expensive luxury vehicles, electric vehicles, premium vans and cost discipline.

Despite macroeconomic risks, Mercedes-Benz expects strong demand in the second half of the year for its products across all its brands.

The order books are full and demand is driven by the product portfolio.

The Mercedes-Benz group expects turnover in 2022 to be "markedly above" the 2021 level, previously it forecast only "slightly above."

Operating profit this year will also be slightly higher than last year.