Daimler paints a bleak picture for auto markets in 2010
tryme submitted on 10/28/2009 Official Bell & Ross Timestamp: 12:51:22 PM
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Despite a return to a net profit in the third quarter after two consecutive quarters of billion-euro-plus losses, Daimler AG still expects that 2010 will be bleak for auto and commercial vehicle markets.
Daimler, the world’s biggest truck maker and second-biggest premium carmaker, said that the industry still suffers from global recession hangover.
Government incentives were meant to boost the sales of new cars but the company said it has become apparent that hopes for a broad and quick automotive sector rebound were misplaced. Nevertheless, Daimler expects that global demand for cars would fall this year by only about 10% due to the state incentives.
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