Luxury carmaker Daimler said it would intensify cost cuts after legal risks for diesel-related issues and the cost of replacing Takata airbags ...
FRANKFURT: Luxury carmaker Daimler said it would intensify cost cuts after legal risks for diesel-related issues and the cost of replacing Takata airbags triggered a 1.56 billion euros loss before interest and taxes in the second quarter.
The German company said 4.2 billion euros in one-off expenses contributed to the operating loss in the quarter, compared with a 2.6 billion profit in the same period last year."In general, we are intensifying the Group-wide performance programs and reviewing our product portfolio in order to safeguard future success," Chief Executive Ola Kaellenius said in a statement on Wednesday.
Earlier this month, the Stuttgart-based carmaker pre-released earnings in what amounted to its fourth profit warning in 13 months, saying its 2019 group EBIT would be"significantly" lower than last year.
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