× Government Healthcare Islamic Finance Oil And Gas Real Estate Technology Telecom Tourism

Mercedes Benz expects top end battery-electric sales

October 26, 2022

Berlin, Oct. 26 (BNA): Mercedes-Benz expects top end vehicle sales to rise in the single digits and said battery-electric vehicle production hampered by production bottlenecks this year as it released third quarter results.

The carmaker had said that in July it expected top end vehicle sales to grow by 10%, Reuters reported.

It was no longer holding as many unfinished products as it was at the height of the semiconductor shortage, chief financial officer Harald Wilhelm said in an analyst call, but inventories were higher because finished products had not yet been delivered.

Pent-up demand in Europe and a high order backlog would carry the carmaker into next year, Wilhelm said, adding it would prioritize bringing down inventory in the fourth quarter.