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.