German automaker Daimler AG issued another profit warning for the year as it reported third-quarter profit of 213 million euros ($273.5 million) on Thursday, reversing a year-ago loss of 1.5 billion euros.The company abandoned its 2008 earnings forecast and reported a fall in North American sales. The company's shares fell more than 8 percent but later recovered.
In a conference call with analysts and reporters, Chief Executive Dieter Zetsche said the global financial crisis has struck the automaker.
"We saw substantial declines" in sales, notably in European markets, he said, adding demand for the company's premium cars had slumped in markets as diverse as the U.S., France and even Russia.
"This is more than just a headwind," Zetsche said.
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