US forecaster expects ‘historic low’ April | Automotive Industry News

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Daimler expects Q1 earnings to plunge as virus hammers sales, production

Daimler stated it expects initially-quarter earnings to plunge as clients shunned Mercedes-Benz showrooms amid the coronavirus pandemic.

Preliminary quarterly earnings in advance of curiosity and tax fell seventy eight per cent to 617 million euros ($664 million), the automaker stated in a statement on Thursday. Altered EBIT declined by 70 per cent to 719 million euros ($774 million.)

Preliminary altered EBIT for Mercedes-Benz cars and vans fell much more than fifty six per cent to 603 million euros ($649 million).

Daimler stated it expects complete device sales and profits for 2020 to be decrease when compared with very last calendar

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