Daimler AG expects to post a positive margin for its Mercedes-Benz cars and vans division in the first quarter, Chief Finance Officer Harald Wilhelm said in an analysts conference Wednesday.

The buses and trucks division also achieved a positive margin, he added.

Separately, Daimler said sales of its Mercedes-Benz brand cars tumbled in the first quarter, as factories closed due to the coronavirus. However, it added that there are now signs of recovery in China.

"In China and South Korea, our dealerships are fully open and we see a significant increase in demand there. That gives us confidence," said Britta Seeger, the company's sales chief, in a statement.

 

Write to Barcelona editors at barcelonaeditors@dowjones.com

 

(END) Dow Jones Newswires

April 08, 2020 12:44 ET (16:44 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
Daimler (XE:DAI)
Historical Stock Chart
From Aug 2020 to Sep 2020 Click Here for more Daimler Charts.
Daimler (XE:DAI)
Historical Stock Chart
From Sep 2019 to Sep 2020 Click Here for more Daimler Charts.