DAIMLER LOST $2.2 BILLION IN Q2, SEES SIGNS OF RECOVERY
Techlife News|Techlife News #456
Daimler, the maker of Mercedes-Benz luxury cars and Freightliner trucks, lost 1.91 billion euros ($2.21 billion) in the second quarter as the coronavirus outbreak slashed sales of the company’s cars, vans, buses and trucks by about a third.

CEO Ola Kallenius said Thursday it had worked to preserve cash reserves during a difficult time and was seeing “the first signs of a sales recovery.” He said there would be more efforts to cut costs because the lost sales would not be made up this year even as the economy returns to “a certain normality.”

The profit figure compared to a loss of 1.24 billion euros in the April-June quarter last year when the company had large one-time deductions to earnings.

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