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February 07, 2014 AT 9:53 AM
Daimler is relying on new compact cars and its S-Class limousine to bring a step change in productivity and pricing, and to fix its China business, Chief Executive Dieter Zetsche said on Friday. The maker of luxury limousines, offroaders and hatchbacks is aiming to raise the average return on sales at Mercedes-Benz Cars to 10 percent, from 6.5 percent in 2013 and 8 percent in the fourth quarter, to close the profitability gap with rivals. The launch of a rejuvenated range of models including a C-Class sedan, the CLA compact coupe, the A and B-Class compact hatchbacks, and the top-of-the line S-class limousine puts Daimler in a sweet spot to raise profitability, Zetsche said.