BERLIN: German car, truck and bus maker Daimler AG has seen net profit fall 32 percent in the first quarter as costs to launch its new E-Class mid-size weighed on the bottom line.
Net profit fell to 1.4 billion euros (US$1.6 billion) from 2.05 billion euros in the year-earlier quarter. Revenue rose 2 percent to 35 billion euros on increased vehicle sales of 683,885, a 7 percent rise.
The net profit figure fell short of analysts’ expectations of 1.7 billion euros as compiled by financial information provider FactSet.