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

FRANKFURT (Reuters) – Daimler 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)