Mercedes-Benz raises outlook after higher Q2 earnings

Mercedes-Benz expects a significant rise in revenues and slightly higher earnings in 2022 than last year, raising its outlook as the firm reported on Wednesday an 8% jump in second-quarter adjusted earnings to 4.9 billion euros ($4.97 billion).

The luxury carmaker had previously said it expected only slightly higher revenues this year and earnings equal to last year, Reuters reports.

Still, uncertainty due to the war in Ukraine, high inflation, interest rate rises, and the pandemic, particularly in China, could all weigh on the business, the carmaker warned.

However, order books were full and Mercedes-Benz Cars was expected to see a slight increase in sales, it said, with the top-end luxury segment forecast to grow more than 10%.

Passenger car registrations in Europe have seen a 12-month decline as supply-chain troubles and rising prices weigh on sales, but luxury carmakers able to prioritise top-end vehicles have broadly proved more resilient as wealthier customers continued to spend.

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