Daimler Earnings Slump as Weaker China Sales Hits Mercedes

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.

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.

South Africa South Africa Latest News, South Africa South Africa Headlines

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

European shares dip as China policy concerns temper earnings boostEuropean shares pulled back from eight-month highs on Wednesday as worries over ...
Source: Reuters - 🏆 2. / 97 Read more »

European shares slip as China worries overshadow robust earningsEuropean shares edged lower on Wednesday as signals that China has put broader s...
Source: Reuters - 🏆 2. / 97 Read more »

World shares fall as China stimulus worries offset upbeat Credit Suisse earningsWorld shares took a step back on Wednesday as signals that China has put broader...
Source: Reuters - 🏆 2. / 97 Read more »