No more Mercedes manufacturing in Mexico or USA

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Daimler will quit building sedans in U.S. and Mexico

FRANKFURT, GERMANY (July 17, 2020) — Daimler on Thursday said it will post an operating loss of 1.68 billion euros ($1.9 billion USD) in the second quarter, pre-releasing earnings following a better than expected market recovery, the carmaker said.

Daimler’s adjusted earnings before interest and taxes (EBIT) as well as the adjusted earnings before interest and taxes at its Mercedes-Benz Cars & Vans are above market expectations, the Stuttgart-based company said in a regulatory statement.

Daimler said it expected an EBIT loss of 1.68 billion euros in the second quarter and an adjusted operating loss of 708 million euros during the same period.

Jahrespressekonferenz Daimler AG Stuttgart 2019 / Annual Press Conference Daimler AG Stuttgart 2019

At its Mercedes-Benz Cars & Vans unit it expects to post an EBIT loss of 1.13 billion euros, and an adjusted operating EBIT loss of 284 million euros, the carmaker said.


About DAIMLER AG

Daimler AG, commonly known and referred to as Mercedes, is a German multinational automotive corporation, headquartered in Stuttgart, Baden-Württemberg.

It is one of the world’s leading car and truck manufacturers. Daimler-Benz was formed with the merger of Benz & Cie and Daimler Motoren Gesellschaft in 1926.

Source: Yahoo News

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