July 23, 2020 / 9:12 AM / 14 days ago

Mercedes-Benz says it will focus on high-end cars to hike profits

FILE PHOTO: Ola Kaellenius, CEO of German luxury car manufacturer Daimler AG, speaks during a TV interview after the annual results news conference in Stuttgart, Germany, February 11, 2020. REUTERS/Andreas Gebert

FRANKFURT (Reuters) - Daimler (DAIGn.DE) Chief Executive Ola Kaellenius on Thursday said the company’s Mercedes-Benz luxury brand will seek to develop its high-end luxury vehicle segment as a way to hike profits.

“I see the strongest growth in the upper end of the segments where we are active,” Kaellenius told journalists in a call to discuss the company’s quarterly results.

Reporting by Edward Taylor; Editing by Riham Alkousaa

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