Tags: EU | Daimler | Earns

Automaker Daimler Sees Q2 Earnings Sag on Weak Pricing

Thursday, 26 July 2018 02:38 AM

FRANKFURT, Germany (AP) — German automaker Daimler AG says its net profit fell 27 percent in the second quarter to 1.8 billion euros, from 2.5 billion euros a year earlier.

The Stuttgart-based maker of Mercedes-Benz cars said Thursday weak pricing for its luxury cars including tariffs played a role. It also cited a fire at a U.S. supplier that caused a production shortfall, as well as unfavorable exchange rates and expenses for post-sale adjustment of diesel car emissions.

Earnings at the truck division were flat.

The company had already lowered its earnings outlook for the year, citing global trade tensions.

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German automaker Daimler AG says its net profit fell 27 percent in the second quarter to 1.8 billion euros, from 2.5 billion euros a year earlier.The Stuttgart-based maker of Mercedes-Benz cars said Thursday weak pricing for its luxury cars including tariffs played a role....
EU,Daimler,Earns
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2018-38-26
Thursday, 26 July 2018 02:38 AM
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