German luxury car manufacturer, Daimler, the team behind Mercedes-Benz have announced that they are planning annual sales of 3 million vehicles, up from 2.4 million in 2017.

The news was revealed in German Automobilwoche publication, which also claimed that Mercedes-Benz were also to increase the number of Mercedes-Benz models to 40.

“The sites in our global production network are running at high utilisation rates,” Markus Schaefer, board member in charge of manufacturing and procurement at Mercedes-Benz Cars, told Automobilwoche.

“That’s why we are expanding our capacities according to market demand and are moving towards 3 million units.”

Daimler are investing $3.7 billion to ramp-up the production outlet to meet the increased demand for Mercedes-Benz’s. This will include three new factories, in Aguascalientes, Mexico; Kecskemet, Hungary and a second site in Beijing, China.

The German manufacturer released news last week which said that they expected a rise in sales and revenue in 2018 and this cash injection would be ploughed into new cars and technologies.

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