Makers of Mercedes reveal profit in first quarter

The German luxury car brand, Daimler AG who are responsible for Mercedes Benz, have reported a healthy profit this year compared to last year.

The brand says it has made a net profit of 612 million euros in the first quarter, meaning it is up after a loss of 1.3 billion euros last year.

The world's second largest luxury car maker said that its profit reflects the continuing upsurge in most of its business lines, with the Mercedes-Benz cars division posting particularly positive earnings. The company revealed that the group's overall revenue increased from 18.7 billion euros to 21.2 billion euros.

Daimler sold 402,700 cars and commercial vehicles worldwide in the first quarter of 2010, which represents a 21 per cent increase over last year. The firm now predicts to make over 4 billion euros in 2010, almost double from its previous forecast.

Chief Executive Dieter Zetsche said in a statement: "This very good first-quarter result shows that we did our homework in the crisis and are now back on a successful course." He added that the company is now again "firmly on track for success."

The strong sales of the Mercedes Benz brand were one of the main reasons for the profit and remain a favourite luxury car in the UK, many used car buyers often profit from purchasing this decadent make.

Francesca Armstrong, Brentwood, Vauxhall Agila

Phil Packham, Shoreham-by-sea, Toyota Rav 4