Current Group Key Figures

The high free cash flow of around €5.1 billion in the quarter reflects the continuous efforts in cost-cutting and cash-preservation measures as well as the positive operating performance across all divisions. Additional positive factors are the dividend from the Chinese joint venture BBAC of €1.2 billion, positive contributions from working capital and seasonal phasing impacts.

Compared with December 31, 2019, the net liquidity of the industrial business increased by €2.1 billion to €13.1 billion. The increase is mainly due to the positive free cash flow of the industrial business, which was partially offset by the dividend payment made to the shareholders of Daimler AG.

The Daimler Group invested € 1.2 billion in property, plant and equipment in the third quarter of this year (Q3 2019: € 1.8 billion). Most of that investment, € 1.0 billion, was at Mercedes-Benz Cars & Vans (Q3 2019: € 1.5 billion). The focus of capital expenditure was on production preparations for the new S-Class and the successor models of the compact cars, as well as preparing for the launch of the new C-Class. High investments also continue to be made in battery production. The main areas at Daimler Trucks & Buses in the third quarter of 2020 were future technologies and tailored products for important growth markets, successor generations of existing products, global engine and transmission projects related to emission standards and fuel efficiency, and the optimization of our worldwide production and sales network.

The Daimler Group’s research and development spending in the third quarter of the year amounted to € 2.1 billion (Q3 2019: € 2.5 billion), of which € 0.6 billion was capitalized (Q3 2019: € 0.7 billion). More than three quarters, € 1.8 billion, of the research and development expenditure was at Mercedes-Benz Cars & Vans (Q3 2019: € 2.1 billion). The main areas of development expenditure were for the next generation of electric vehicles and battery production. Furthermore, the topics of digitization and autonomous driving are constantly being pushed forward. The most important projects at Daimler Trucks & Buses were in the areas of emission standards and fuel efficiency, as well as tailored products and technologies for major growth markets. In addition, an important role is played by the future technologies of automated and autonomous driving, electric mobility and connectivity. Against the background of the measures we have initiated to secure liquidity and reduce costs, we also made reductions in the development budget, but the focus on future technologies remained unchanged.

Employees

At the end of the third quarter of 2020, the Daimler Group employed 291,770 people worldwide (end of 2019: 298,655). Of that total, 168,560 were employed in Germany (end of 2019: 173,813), 25,112 in the United States (end of 2019: 25,788), 10,939 in Brazil (end of 2019: 11,128) and 11,294 in Japan (end of 2019: 10,056). Our consolidated companies in China employed 4,229 people at the end of September 2020 (end of 2019: 4,439).

Sold vehicles

In the third quarter of 2020, Daimler sold 772,700 cars and commercial vehicles worldwide (Q3 2019: 839,300).