Daimler has a promising 2014, with profit and sales soaring image

Chief Executive Officer Dieter Zetsche announced that his growth strategy at Mercedes-Benz is on track to register a “significant” operating profit increase for this year, as sales growth beats rival’s gains.

Daimler will hold today the annual shareholders meeting in Berlin and Zetsch is bolstering his and his management team achievements – reiterating his goal of overtaking BMW and Audi to regain the premium sales crown by the end of the decade.

“Our determination is paying off,” Zetsche said today in a statement in advance of the meeting. Daimler is “seeking to gain new customers by entering new segments for Mercedes-Benz.”

After BMW managed to outsell Mercedes-Benz since 2005 and Audi also snatched second place since 2011, the German carmaker is on a product offensive spree, with the CEO rolling off no less then 30 models – with 12 brand new – in the set time to 2020. In February, Daimler announced that only for the next two years, vehicle development spending and production capacity increases would amount to around 21.8 billion euros ($30 billion).

During today’s meeting, shareholders are also set to vote on the successors of three of the supervisory board members, with Daimler nominating Bernd Pischetsrieder, formerly the CEO at VW and BMW; Bernd Bohr, an ex-manager at Robert Bosch GmbH; and Joe Kaeser, the CEO of Siemens AG.

Via Bloomberg