German automotive concern Daimler AG recorded a loss in the second quarter amid expenses related to the "diesel scandal", as well as spending on recalls of cars due to problems with airbags of the Japanese company Takata.
According to a press release from Daimler, the net loss in April-June amounted to 1.3 billion euros against a net profit of 1.73 billion euros in the same period last year. The auto giant's revenue increased by 5 percent to 42.65 billion euros.
The company has reported one-off costs of € 4.2 billion.
Less than two weeks ago, Daimler warned investors of lower profits, downgrading its financial outlook for 2019 for the second time. The company said in June that earnings this year would be roughly in line with 2018 versus a previous forecast, while previously forecasting weak growth.
The growth of the German economy this year will slow down by 0.1 percent due to weaker international demand for products manufactured in Germany, and will amount to 0.7 percent. For 2020, the IMF plans to grow German GDP by 1.7 percent.
