Automaker Daimler sees Q2 earnings sag on weak pricing
FRANKFURT – German automaker Daimler AG says its net profit fell 27 per cent 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 unfavourable 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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