Mexican Media Brands
Daimler’s Second-Quarter Profit Rises 3%
Daimler AG reports its second-quarter revenue and net profit each advanced 3% to €38.6 billion ($42.6 billion) and €2.5 billion ($2.7 million), respectively.
#economics
Share
Daimler AG reports its second-quarter revenue and net profit each advanced 3% to €38.6 billion ($42.6 billion) and €2.5 billion ($2.7 million), respectively.
Unit sales of cars and commercial vehicles in April-June rose 7% to 761,300 vehicles. Quarterly group earnings before interest and taxes fell to €3.3 billion ($3.6 billion) from €3.7 billion ($4.1 billion). When adjusted for special items, EBIT grew 6% to €4 billion ($4.4 billion).
Daimler's Mercedes-Benz Cars division posted a 9% sales gain to 546,500 cars and crossovers for the period. Deliveries set second-quarter records in Europe and China. Revenue climbed 5% to €22.1 billion ($24.4 billion).
Sales by Daimler Truck fell 13% to 108,300 units in the second quarter as declines in the Americas and Middle East offset 13% growth in Europe. Revenue fell 7% to €8.7 billion ($9.6 billion). EBIT dropped 9% to €621 million ($685 million).
Daimler predicts slight full-year gains in revenue and adjusted EBIT for 2016.
RELATED CONTENT
-
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.
-
VW Warns of Higher Costs to Develop EVs
CEO Herbert Diess says the €20 billion ($23 billion) Volkswagen AG has budgeted to electrify its entire vehicle lineup won’t be enough to meet that goal.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.