Mercedes-Benz Rus (a 100% subsidiary of the German concern Daimler AG) increased its net profit under RAS for the first quarter of 2016 by 7% compared to the same period last year to 5.8 billion rubles, according to the company's quarterly report. Revenue for this period grew by 9.5% to 38.72 billion rubles, cost of sales increased by 8.8% to 30.81 billion rubles. Other income increased by 22% to 843.5 million rubles, other expenses increased 2.7 times to 144.7 million rubles.

The company's short-term borrowings as of March 31, 2016, decreased to zero from RUB 5.49 billion at the beginning of the year. Accounts payable increased by 12.5% to RUB 18.587 billion. Accounts receivable increased by 49.9% since the beginning of the year to RUB 4.611 billion.

According to the Association of European Businesses (AEB), sales of Mercedes-Benz passenger cars and light commercial vehicles (including Smart) in Russia in the first quarter of 2016 decreased by 16.6% compared to the same period in 2015, to 14,692 units. Sales of Mercedes-Benz competitors - BMW and Audi - during this period fell by 6.2% and 14.8% to 10,062 units and 7,024 units, respectively. The Russian passenger car and LCV market in the first quarter decreased by 8.5% to 121,272 units.

Daimler's Russian subsidiary increased its net profit under RAS in the first quarter by 7%