Daimler’s Earnings to Rise on Growth in Russia, China

Daimler AG said Wednesday its sales and profit will rise this year on higher demand from emerging economies such as Russia and China, outweighing a weaker U.S. economy, Bloomberg reported.

Daimler expects unit sales to increase further in 2008, while earnings are expected to be significantly higher than in 2007, Chief Executive Officer Dieter Zetsche said at the Germany-based company’s annual shareholders meeting in Berlin, Bloomberg reported.

The company’s truck unit will report an average 8% return from 2010, and may add a truck plant in Russia, as that country’s growing economy boosts demand, Bloomberg said.

Daimler is also investing 150 million euros (about $235 million) in German heavy-truck production this year, Bloomberg reported. It will spend 14 billion euros ($22 billion) groupwide through 2010 on research and development.

Daimler is the parent company of Daimler Trucks North America, which includes the Freightliner, Sterling and Western Star brands.