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Daimler Earnings Slump as Weaker China Sales Hits Mercedes

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Profits at Daimler's Mercedes-Benz car division are hit by a drop in sales in China

BERLIN—German luxury car maker Daimler AG reported a 37% drop in first-quarter earnings in its core car division, citing weak sales in China and a rapidly slowing global economy that hit its business in major markets.

Daimler on Friday said profits at the Mercedes-Benz car division, the company’s biggest, were hit by a 3% drop in China sales and an increase in the share of low-margin models in the company’s overall product mix. The return on Mercedes-Benz cars sales fell to 6.1% from 9% a year earlier.

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This is the first of many shudders across the auto industry. Technology is making humans more savvy. Even if they don't know how to ask, they know they're being given disposable crap by every auto maker on Earth. That goes for tech too...grumpy companies are ahead.

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