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S o Dieter Zetsche really does not trust the case. "If any other developments follow what was explained this morning in this brief press conference, then it will undoubtedly be very good news," said Daimler's chief
. Donald Trump, after progressing in trade talks with European Commission President Jean-Claude Juncker, wants to give up punitive tariffs on cars first. At least in the next 120 days, Daimler, BMW and Volkswagen will be spared higher fees.
But the experience with Trump also paid attention to Zetsche. "The change in the news has not always been sustainable," said Daimler's head. A diplomatic wording that in the Trump era can change everything by one tweet again.
Prior to negotiations between the US President and Juncker, he had always received the signal that punitive tariffs are likely to come, so far the news has changed at least currently positive, Zetsche said.
Special effects reduced earnings 19659006] This is one of the few good news that he can announce today. After years during which the automaker of Stuttgart was able to beat a record against the others, Daimler had to register a sharp fall of its profits during the last quarter.
Although the Group can sell about 1% of vehicles more than last year, sales fell by 1% even by 27 percent to just 1.83 billion euros back.
This was not just about tariffs, even though export taxes between China and the United States made Daimler difficult to manage. But there are many special effects that have ruined profit. For example, the comparison in the dispute over Toll Collect's truck toll system, which adds to the group's operating profit with 418 million euros, but also stops the suspected deliveries of exhaust gas manipulations. and the problems of the new procedure WLTP authorization, All vehicles must have gone through from September this year.
Daimler has long since not all models certified on time, so some are not currently available and in the coming months. There is a "very significant reduction in the availability of vehicles," said Zetsche. Which models are affected, he did not want to communicate. "But that has nothing to do with the demand," the CEO said. It is still high, you can not serve them optimally.
According to Zetsche, this is particularly noticeable in profitability: If the customer's dream vehicle is available, he currently has to "convince him that another vehicle is optimal for him ". Of course, this is also possible thanks to discounts and rebates, which reduces the profit of the group.
Big discounts to stay in business
But not only in Europe, where new registration rules are pushing prices. In China too, traders have often had to give discounts in recent months. This was mainly due to the announcement of the Chinese government to lower import tariffs.
In order to convince local customers to buy a Mercedes despite the imminent reduction, some have already had to grant the advertised discount, even though higher tariffs were still due.
Other vehicles, mainly from the SUV segment, produced by Daimler in the United States and exported to China, were again subject to significantly higher tariffs of up to 40% during the commercial dispute between Trump and the People's Republic.
To be able to sell it in China, the manufacturer has Could not sell the costs completely, as a result, the profit has decreased in addition. To make matters worse, a major supplier plant in the United States has also burned. Zetsche spoke of a "mess" in which one was stuck. "From July to September, Daimler expects other problems, especially because the vehicles can not be delivered due to the lack of WLTP certification. The third quarter earnings of the automotive division will therefore be even lower than in the last three months.
Özil's sponsorship contract runs until the end of the year
Zetsche expects a standardization in the last quarter until the end of the year. Year as intermediate vehicles could then be delivered.
To be more flexible in the face of future problems, Set up Daimler in the future with a new structure. Three independent divisions for passenger cars, trucks and mobility services are to act under the umbrella of a Daimler joint holding company.
The Supervisory Board approved this new structure on Thursday, but it must now be approved by shareholders at the next General Assembly in the spring of 2019.
Billions in Electromobility
Please try again later.
"More electric cars are good for the carbon footprint.But this is not good for our consolidated balance sheet," said Daimler Zetsche's CEO at the annual general meeting of Berlin's entire speech can be seen here:
Zetsche hopes that he will be able to bring better news to investors again.But despite all the problems, he was convinced that Mercedes will sell more vehicles this year than the two Audi and BMW competitors. "At the present time, it is clearly ahead of the competitors.
And another unpleasant topic for Daimler has probably been resolved by then: the former national footballer Mesut Özil had also criticized his sponsor Mercedes-Benz for his alleged abatement.
The sponsorship agreement with Özil will continue until the end of the year, says Zetsche. it does not sound, the boss of Suede I also remain calm here: "To my knowledge, he continues to drive Mercedes."
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