Daimler, Parent Company of Mercedes, Warns About Profit Drops in 2019
Daimler AG, the parent company of Mercedes-Benz, posted a warning about a likely slump in its profits for 2019. The company blamed the numerous recalls, legal issues and low consumer demand for new cars as the reason for the drop. According to CNN, Daimler projects €1.6 billion ($1.8 billion) profit for the second quarter. The figures are a significant dive from the same period last year, which saw the company’s earnings at €2.6 billion ($2.9 billion). With that, the automaker is estimated to rake up less than the €11.1 billion ($12.5 billion) profit it recorded in 2018. Among the mentioned factors for the low returns were the Takata airbag recall,… Continue Reading »
