Reuters - Video

Edition: US | UK | IN | CN | JP

video Finance Videos

Wall Street gets Fed reality check
Wall Street gets Fed reality check - 01:51
Reuters Today: Spanish yields seen rising at auction
Reuters Today: Spanish yields seen rising at auction - 06:21
Surprise services boost points to UK recovery
Surprise services boost points to UK recovery - 02:54
Breakingviews: Do as I say, not as I do – German wages
Breakingviews: Do as I say, not as I do – German wages - 05:04
Market Pulse: Spain under fire as investors shun bond sale
Market Pulse: Spain under fire as investors shun bond sale - 03:28
Myanmar's Kyat begins managed float
Myanmar's Kyat begins managed float - 01:59
ASEAN: territorial code of conduct draft by year-end
ASEAN: territorial code of conduct draft by year-end - 01:48
U.S. Morning Call: Stock futures down, JPMorgan to be fined
U.S. Morning Call: Stock futures down, JPMorgan to be fined - 02:08
EMEA Day Ahead:: Thursday
EMEA Day Ahead:: Thursday - 03:13
3XSQ: Customer funds in question; royal return
3XSQ: Customer funds in question; royal return - 05:44
Still cashing in? Hirst retrospective
Still cashing in? Hirst retrospective - 02:32
World's biggest car delivery center
World's biggest car delivery center - 02:41
FACTBOX: Titanic the movie sails again
FACTBOX: Titanic the movie sails again - 02:20
Trading at Noon: Wall St. down on lost hope for stimulus
Trading at Noon: Wall St. down on lost hope for stimulus - 02:48
Draghi holds rates, offers caution
Draghi holds rates, offers caution - 01:50
Breakingviews: Gun bubble redux
Breakingviews: Gun bubble redux - 02:51
Yahoo cuts 2,000 jobs
Yahoo cuts 2,000 jobs - 01:15
Easter egg panic in eastern Europe
Easter egg panic in eastern Europe - 01:28
Wealth Strategies: Equity rally has 3 years left in cycle
Wealth Strategies: Equity rally has 3 years left in cycle - 06:05
Congressional insider trading ban
Congressional insider trading ban - 01:17
Gas prices no detour for car buyers
Gas prices no detour for car buyers - 02:13
Demand for fuel-efficient cars will outlast spike in gas prices
Demand for fuel-efficient cars will outlast spike in gas prices - 02:36
Most engines of growth are in emerging markets : Nissan CEO
Most engines of growth are in emerging markets : Nissan CEO - 05:39
U.S. Day Ahead: GAP set to shine with same store sales
U.S. Day Ahead: GAP set to shine with same store sales - 01:59

Daimler Q3 profit falls on diesel costs

Friday, October 20, 2017 - 01:37

Daimler's third-quarter operating profit declined, as the cost of making diesel engine cars run cleaner and other special items outweighed record sales of Mercedes-Benz luxury models. Ciara Lee reports

▲ Hide Transcript

▶ View Transcript

A greener auto sector doesn't come cheap. And the cost of making cleaner diesel engine cars is beginning to squeeze carmakers. Daimler's third-quarter earnings plunged 14 percent to 3.46 billion euros Outweighing record sales of its Mercedes-Benz luxury models. The German firm spent 223 million euros last quarter to update over 3 million current and older Mercedes diesel models in Europe In a bid to curb pollution and help avoid driving bans. (SOUNDBITE) (English) CHIEF ECONOMIC ADVISER, CEBR, VICKY PRYCE, SAYING: "It is a problem for the car industry which has actually done rather well generally, in terms of meeting the EU targets for reducing CO2 emissions and making their engines much more efficient. I think the manufacturers have moved really quite fast, faster than some of the targets being set. There is no doubt that it's costly for the industry." For Daimler, further bumps in the road are expected. A recall of more than a million passenger cars and SUVs to address potential unintended air bag deployments will add another 230 million euros in costs. But there was good news at Daimler Trucks, the group's second-largest unit by revenue Earnings jumped by a third thanks to a boost in North America where heavy-truck orders rose to their highest in over two years in September. And third-quarter deliveries of Mercedes luxury cars rose a record 7.9 percent, thanks to demand for its SUV models.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Close

Daimler Q3 profit falls on diesel costs

Friday, October 20, 2017 - 01:37