Daimler’s quarterly profits double

May 1, 2014 11:29 am

German automaker, Daimler has said its first-quarter operating profit has more than doubled, as surging sales of new cars and improving margins in its Mercedes-Benz luxury autos division extended its recent recovery, Reuters has reported. Group earnings before interest and tax (EBIT) from ongoing business rose to €2.07bn in the three months ended March, up from €949m in the year-earlier period. Daimler said that sales of Mercedes-Benz cars rose 14% in the first quarter, driven by demand from China and the United States, as it prepares to roll out a fresh version of its new C-Class model, currently the best selling Mercedes-Benz.