BREAKING NEWS

BREAKING NEWS

Daimler issues profit warning on diesel woes, shares hit 5-year low

Now Reading :

Daimler issues profit warning on diesel woes, shares hit 5-year low

Daimler issues profit warning on diesel woes, shares hit 5-year low
@ Copyright :
REGIS DUVIGNAU(Reuters)
Text size Aa Aa

FRANKFURT (Reuters) - German luxury carmaker Daimler AG <DAIGn.DE> issued a profit warning on Friday, saying that costs arising from "government proceedings and measures" concerning its diesel vehicles were mainly to blame.

Daimler said it expected its full-year earnings before interest and tax to be significantly below last year's level.

The company's shares fell to a five-year low on the news, and dragged down shares in other European carmakers.

(Reporting by Douglas Busvine; editing by Thomas Seythal)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.