Daimler issues profit warning, blames U.S.-China trade war
Reuters
Published Jun 20, 2018 04:36PM ET
Daimler issues profit warning, blames U.S.-China trade war
(Reuters) - Daimler AG (DE:DAIGn) on Wednesday flagged headwinds for its 2018 earnings mainly due to fewer-than-expected Mercedes-Benz SUV sales and likely higher costs resulting from increased import tariffs for U.S. vehicles into the Chinese market.
The automaker also said the effect of tariffs cannot be fully compensated by reallocating vehicles to other markets.
The company said its profit will also be hurt by a new vehicle certification process, recall of some diesel vehicles and declining demand for its buses in Latin America.
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Written By: Reuters
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