KUALA LUMPUR (Jan 8): Cycle & Carriage Bintang Bhd climbed as much as 2.59% following news that its joint venture company with Daimler AG, Mercedes-Benz Malaysia Sdn Bhd (MBM), recorded a 56.4% year-on-year increase in sales volume of its passenger vehicles last year.

At 3.24pm, Cycle & Carriage pared some gains and was trading at RM3.53, still up six sen or 1.73%, with 208,200 shares done, for a market capitalisation of RM349.6 million.

MBM announced in a media briefing earlier today that it had reported higher sales volume of 10,845 passenger vehicles last year, compared with the 6,932 units it saw in 2014.

MBM sales and marketing vice president Mark Raine said the higher record was mainly due to sales growth of C-Class, E-Class, S-Class and CLA models.

Raine had also said the company will maintain the current prices of its cars and is hoping to continue the sales momentum in 2016.

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