FRANKFURT, Oct 21, (APP/AFP) – German carmaker Daimler on Friday lowered forecasts for 2016 despite a strong third quarter, with lower truck sales countering growing demand for its flagship Mercedes-Benz cars. The firm’s net profits grew by almost 13.0 percent between July and September compared with the same period in 2015, hitting 2.7 billion euros ($2.9 billion) on sales of 39 billion euros, up around 4.0 percent. Profits were slightly higher than analysts surveyed by Factset had predicted. Growth at Daimler was powered by the cars division, whose Mercedes and Smart brands saw 12 percent growth in sales. Chinese buyers were especially keen to get behind the wheel of a Mercedes, with unit sales increasing 20 percent there.
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Weak truck demand saps Daimler’s confidence for 2016
