The car company Daimler has reduced its outlook for 2018. As reasons were the trade conflict between the USA and China and the diesel affair called.
Daimler expects earnings before interest and taxes (EBIT) to be slightly below the previous year’s level in the current year, the Dax Group announced in Stuttgart on Wednesday evening. So far, an EBIT was slightly above the previous year’s value of 14.7 billion euros.
The Group expects a reluctance to buy Chinese motorists and also referred to the cost of recalling hundreds of thousands of diesel vehicles in Europe.
Higher import duties for US vehicles in China are likely to boost demand SUVs burden, said Daimler. China is a very important sales market for German automakers such as Daimler, which also operate plants in the USA.
US and China before trade war
After a few weeks ago, with the prospect of lower import duties, China gave the shares of automakers tailwind, the tide has now turned.
The US and China are now heading for a solid trade war. So had Beijing until Tuesday Retribution announced , shortly after that White House had commissioned the examination of additional duties of ten percent on Chinese goods worth $ 200 billion.
In addition, Daimler expects burdens from the Recall of diesel vehicles , Because of the allegation of an inadmissible exhaust technology Daimler call back 774,000 vehicles throughout Europe – including 238,000 in Germany , Daimler wants to implement the recall, but had recently announced an objection.
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