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Model-launch expenses weigh on Daimler earnings

Model-launch expenses weigh on Daimler earnings

Automaker Daimler AG says net earnings fell 11 percent in the second quarter from the same period a year ago.
Profits were down despite stronger sales. The company on Wednesday cited added expenses for launching the new A-Class compact and B-Class hatchback. Both cars have been top sellers but expenses for those models rise _ and sales fall _ during the transition to new versions.
The company made (EURO)1.51 billion ($1.83 billion) compared to (EURO)1.70 billion in the same period the year before. Revenue grew 10 percent to (EURO)28.9 billion.
The company held onto its forecast for the year of earnings equal to last year, but cautioned that "economic uncertainty and risks exist in nearly all regions."


Updated : 2021-10-17 08:52 GMT+08:00