July 26, 2018 / 5:44 AM / a year ago

Daimler Q2 profit hit by WLTP emissions, clouding outlook

FRANKFURT, July 26 (Reuters) - Daimler’s second-quarter profit fell 30 percent due to weaker pricing at Mercedes-Benz Cars, currency headwinds and tariffs from a global trade dispute which threatens to further dent auto industry earnings.

Last month Daimler blamed a trade dispute between China and the United States for a cut in its 2018 forecast. Rivals Fiat Chrysler and General Motors followed suit this week, also lowering their full-year expectations.

Daimler on Thursday said the margin on its Mercedes-Benz luxury vehicles narrowed to 8.4 percent in the second quarter, from 10 percent a year earlier.

Earnings before interest and taxes (EBIT) dropped to 2.64 billion euros in the quarter ending June, Daimler said, blaming a fire at a supplier, expenditure on self-driving and zero-emission vehicles and weaker sales.

Sales of Mercedes-Benz Cars fell 1 percent in the second quarter. (Reporting by Edward Taylor Editing by Maria Sheahan)

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