FRANKFURT: Daimler said its first-quarter operating profit fell 16 per cent, weighed down by a 4 per cent drop in sales of Mercedes-Benz cars, higher raw material costs and investments into its Trucks division.
Earnings before interest and tax dropped to 2.80 billion euros in the first quarter, falling behind analyst expectations of 2.89 billion euros.Daimler said the return on sales at Mercedes-Benz cars fell to 6.1 per cent, down from 9 per cent a year earlier, due to a 3 per cent fall in China sales and higher growth in lower-margin compact vehicles.Source: Reuters/zl
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