Berlin, Oct. 26 (BUS) – Mercedes-Benz expects high-end car sales to rise in single digits and said production of electric cars was hampered by production bottlenecks this year as it released third-quarter results.
The automaker said it expects luxury car sales to grow 10% in July, Reuters reported.
Chief Financial Officer Harald Wilhelm said on an analyst call that the company no longer held as many unfinished products as it did at the height of the semiconductor shortage, but that stocks were higher because finished products had yet to be delivered.
Pented demand in Europe and a backlog of high orders will carry the automaker into next year, Wilhelm said, adding that it will prioritize reducing inventory in the fourth quarter.
SM