October 25, 2018 / 5:49 AM / a month ago

Daimler Q3 hit by Germany slump as CEO forecasts high demand in Q4

FRANKFURT, Oct 25 (Reuters) - Daimler Chief Executive Dieter Zetsche on Thursday said customer demand remains strong even as a regulatory crackdown on diesel cars and a 13 percent sales slowdown for Mercedes-Benz cars in Germany weighed on third-quarter earnings.

“The automotive industry and thus also Daimler are still in a very challenging environment. The continued high demand from our customers makes us confident for the fourth quarter,” Chief Executive Dieter Zetsche said in a statement.

Daimler last week said its full-year operating profit would fall by over 10 percent because of “government proceedings and measures in various regions”, in what amounts to the company’s second profit warning in four months. (Reporting by Edward Taylor; Editing by Maria Sheahan)

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