© Reuters. FILE PHOTO: A view shows model E400e 4Matic of Mercedes-Benz, a German automobile manufacturer, displayed during an event a day ahead of the official opening of the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 4, 2023. REUTERS/Leonhar
STUTTGART (Reuters) – Mercedes-Benz (OTC:) on Thursday reported an adjusted return on sales in its car division of 12.6% for 2023, in line with its forecast, as inflation and supply chain-related costs ate into its profits.
The luxury carmaker raised its average price by 2% to 74,200 euros ($80,395.70) and increased spending on research and development for future technologies like its MB.OS platform.
Group earnings before interest and taxes fell to 19.7 billion euros from 20.5 billion euros last year despite a 2% rise in revenue.
($1 = 0.9229 euros)
