german auto giant daimler says net profit down 31 in first quarter
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
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German auto giant Daimler says net profit down 31% in first quarter

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Arab Today, arab today German auto giant Daimler says net profit down 31% in first quarter

Mitsubishi Motor's
Frankfurt - Arab Today

German carmaker Daimler, owner of Mercedes-Benz, said Friday that its bottom-line profit slumped in the first three months of this year due to falling sales of two of its main model ranges.

Daimler said in a statement that net profit fell by 31 percent to 1.353 billion euros ($1.5 billion) in the period from January, "impacted primarily by a lifecycle-related decrease in unit sales of the S- and E-Class at the Mercedes-Benz Cars division."

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