Mercedes-Benz Sees Record-High Sales Increase, Still Lingers Behind BMW And Audi

The chief executive of German carmaker Daimler said Wednesday that the company has more work ahead as its flagship brand Mercedes-Benz battles to overtake luxury rivals BMW and Audi.

Dieter Zetsche told about 6,000 shareholders that, “Our company is on the way to its best form, but is not there yet.”

Mercedes-Benz reached a record high in the first quarter of the year, with sales up until March rising by 12 percent—to more than 340,000—compared to the same period last year. The rise reflected a strong demand for the company’s C-Class models, as well as its S-Class and SUV models. Truck and van sales also jumped 20 percent in the first sales quarter.