German auto giant Daimler on Friday reported a €1.6 billion ($1.8 billion) second-quarter operating loss and cut its profit forecast for the rest of the year, shocking the automotive sector. The loss compared to a €2.6 billion profit in the first quarter and was blamed on the lingering Dieselgate scandal, which saw several carmakers admit to manipulating its cars to lower their emissions during regulatory tests. Daimler said it was setting aside another €1.6 billion to deal with recalls, government fines and lawsuits connected to the saga. A further billion euros has been earmarked to deal with problems involving Takata airbags. Watch video 01:31 Share German carmakers want the government to help promote e-cars Send Facebook Twitter google+ Whatsapp Tumblr linkedin stumble Digg reddit Newsvine Permalink https://p.dw.com/p/3KzdH German carmakers want the government to help promote e-cars Read more: Racing towards the unknown, but in an electric car The Stuttgart-based carmaker saw losses in both the passenger car and vans divisions in the second-quarter, citing delays to new products and slower demand in several automotive markets as contributory factors. ‘Significantly’ lower earnings Daimler’s 2019 earnings before interest and taxes are now expected to be “significantly below” last year’s, and its Mercedes-Benz passenger car division forecasts an operating profit margin of just 3… Read full this story
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