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Daimler profits fall 16 percent on diesel recall costs
Automaker to install an control software on existing vehicles
20 October, 16:09
(ANSA) - TRIESTE - German automaker Daimler said net profit
fell 16 percent in the third quarter as a voluntary recall to
improve diesel emissions hurt earnings at its Mercedes-Benz
luxury car brand. Net profit fell to 2.3 billion euros from 2.7
billion euros in the same quarter a year earlier despite a 6
percent increase in sales revenue to 40.8 billion euros.
The Stuttgart-based company said that earnings at the Mercedes-Benz division, a pillar of the company's earnings, were hit by a charge of 223 million euros to pay for an engine control software update on existing vehicles to reduce diesel emissions. The voluntary recall is part of an effort by German automakers to restore confidence in diesel technology and ward off bans on diesels in German cities. (ANSA).
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The Stuttgart-based company said that earnings at the Mercedes-Benz division, a pillar of the company's earnings, were hit by a charge of 223 million euros to pay for an engine control software update on existing vehicles to reduce diesel emissions. The voluntary recall is part of an effort by German automakers to restore confidence in diesel technology and ward off bans on diesels in German cities. (ANSA).
