News Formal

Daimler's earnings plunge as coronavirus hammers sales

  • 📰 Reuters
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

German car and truck maker Daimler warned of a nearly 70% plunge in first-quarter operating profit as customers shunned car and truck showrooms

) reported a plunge of nearly 70% in first-quarter operating profit on Thursday due to the coronavirus pandemic and warned that the cash flow it uses to pay dividends would fall this year.

Daimler said preliminary adjusted first-quarter earnings before interest and tax slumped 68.9% to 719 million euros while both vehicle sales and revenue would fall this year. Adjusted EBIT for Mercedes-Benz vehicles fell more than 56% to 603 million euros.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

The most interesting part about car sales is there are still hundreds of thousands of people actually still buying new cars each month

Covid19

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Daimler earnings plunge as coronavirus hammers vehicle sales, productionDaimler AG said on Thursday it expected to report a near 70% plunge in a key first-quarter earnings figure and 2020 industrial free cash flow to fall, as customers shunned Mercedes-Benz car showrooms amid the novel coronavirus pandemic. in other news: duh Poor rich boy 👦
Source: Reuters - 🏆 2. / 97 Read more »