Mexican Media Brands
Daimler Issues a Fourth Profit Warning
Daimler AG has lowered its profit outlook for the fourth time since last summer, warning it will post a €1.6 billion ($1.8 billion) pretax loss in the second quarter.
#economics
Share
Daimler AG has lowered its profit outlook for the fourth time since last summer, warning it will post a €1.6 billion ($1.8 billion) pretax loss in the second quarter.
The company says quarterly EBIT losses by its Mercedes-Benz brand car and van businesses will offset modest gains for its truck, bus and financial services operations. Last year, the group posted a positive EBIT of €2.6 billion in April-June.
Daimler says two regulatory issues also will have a major impact on EBIT. The company will boost provisions for special charges by €1 billion to replace explosion-prone Takata airbag inflators and by €1.6 billion to remedy diesel engines that don’t meet emission standards in Europe and elsewhere.
The company further warns of delays in ramping up production of new models and sales that grow slower than expected.
RELATED CONTENT
-
on the Genesis GV60 interior, EV sales in H1, Bentley Bentayga's wood work, Faurecia's advanced manufacturing & more
The strange glowing orb in the Genesis GV60. . .global EV sales in the first half. . .creating wood for the Bentayga interior. . .the importance of material handling at Faurecia. . .lux ATPs. . .fast Porsche. . .fast Lambo. . .the Avalon Hybrid. . .Silverado steel. . .
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.