Mercedes-Benz said on Friday its net profits rose by 12 per cent in the first quarter to €4.0 billion, buoyed by demand for its vans and priciest premium cars.

The German carmaker said its revenues were up eight per cent compared to the same period last year, reaching €37.5 billion, despite supply chain disruptions.

Sales in its top-end car range which includes the Mercedes-Maybach shot up by 18 per cent to 91,772 units, pulling up the carmaker's bottom line.

Its vans division also reported a jump of 25 per cent in revenues.

"Our focus on top-end cars and premium vans has made Mercedes-Benz more weatherproof, allowing us to accelerate our digital and electric transformation – even in a period of economic uncertainty," said Harald Wilhelm, chief financial officer of the group.

Our focus on top-end cars and premium vans has made Mercedes-Benz more weatherproof, allowing us to accelerate our digital and electric transformation – even in a period of economic uncertainty- Mercedes-Benz chief financial officer Harald Wilhelm

The group said recent turbulence in the banking sector in the US and Europe were new uncertainties weighing on its outlook but energy prices are expected to be less volatile. 

In addition, global supply bottlenecks are expected to ease further.

The strong demand for its vans led it to raise its profitability outlook to 11-13 per cent from 9-11 per cent previously.

On cars, the comparative target is seen to reach the upper end of 12-14 per cent, it said.