With the very unpredictable onslaught of the economic problems in Europe, Daimler has decided to re-evaluate their position in the market. The company revealed that they will review their targets for the present year in their recent conference in Berlin with shareholders.
The automaker previously relied on forecast of increased sales this year up to the following year. However, many analysts are now saying that a second profit warning may be imminent due to the weak start of the company in its key markets, especially Europe.
According to CEO Dieter Zetsche, the end of the crisis cannot be determined yet. So he told the shareholders that there are no signals of trend reversals in Europe. The CEO added that they will publish their updated earnings forecast in their first quarter report on April 24.
Based on the report of the DW website, a data last week showed that BMW and Volkswagen’s Audi are still ahead of Daimler in the market. However, Zetsche remained firm that Daimler will overtake the two brands by 2020.
Zetsche stated that his company is continuing its goal of refreshing its variants and in creating a more efficient production line. He further said that they are focusing on improving their sales in China, which presently holds the world’s biggest car market.