Mercedes-Benz reported on Thursday an annual adjusted return on sales of 12.7% for 2021, with revenue from top models up 30%, as the carmaker focused on high-end and electric vehicles amid supply chain difficulties, Trend reports with reference to Reuters.
The Mercedes-Benz Cars & Vans division more than doubled its annual adjusted earnings before interest an taxes (EBIT) to 13.9 billion euros ($15.61 billion) from 6.8 billion euros last year even as unit sales fell 5%.
Mercedes-Benz expects revenue to rise slightly this year compared with 2021 as supply chain bottlenecks ease, the luxury carmaker said, but added it was too soon to predict an end to the semiconductor shortage.
The luxury carmaker predicted that sales of its top end models would grow 10% in 2022, adding it was intensifying its communication with chip producers to gain more visibility of the supply chain.
"Alongside the focus on cost efficiency and supply chain management, three strategic priorities stand out: scaling our electric offensive, accelerating our car software plans and building out our luxury business," Chief Executive Ola Kaellenius said.