Wednesday July 29, 11:41 AM
Daimler in red again, sees lower sales
FRANKFURT (AFP) - German auto and truck maker Daimler (Xetra: 710000 - news) posted a sharp net loss in the second quarter and said it expected a clear decrease in sales globally for all 2009.
The maker of Mercedes Benz autos said it suffered a net loss of 1.062 billion euros (1.5 billion dollars) on sales that plunged by one quarter to 19.6 billion euros but nonetheless predicted that the situation would improve gradually in the coming months.
Analysts had forecast an even bigger net loss of 1.34 billion euros but the results looked dismal compared with a profit of 1.4 billion euros posted by Daimler in the second quarter of 2008
Daimler did not give a precise figure for its projected 2009 net loss but did say that its operating profit was "expected to improve gradually in the course of the year."
It warned however that "from today?s perspective, global demand for passenger cars will fall by approximately 15 percent compared with last year."
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