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Germany's Daimler lowers 2018 outlook, cites tariffs, diesel
Due to increased import tariffs for U.S. vehicles
21 June, 14:12
(ANSA) - BERLIN - German automaker Daimler AG has lowered its
2018 earnings outlook, a change that it says is partly due to
increased import tariffs for U.S. vehicles in China.
The company said late Wednesday that it now sees fewer SUV sales and higher costs at its Mercedes-Benz Cars division than previously expected as a result of the tariffs, and "this effect cannot be fully compensated by the reallocation of vehicles to other markets." It added that earnings at the Mercedes-Benz Vans division will be hit by the recall of diesel vehicles.
(ANSA).
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The company said late Wednesday that it now sees fewer SUV sales and higher costs at its Mercedes-Benz Cars division than previously expected as a result of the tariffs, and "this effect cannot be fully compensated by the reallocation of vehicles to other markets." It added that earnings at the Mercedes-Benz Vans division will be hit by the recall of diesel vehicles.
(ANSA).
