Daimler Lowers 2019 Guidance on Increased Provisions and Model Rollout; Maintaining EUR 85 FVE
No-moat Daimler, the maker of Mercedes-Benz cars, trucks (Freightliner in the United States), vans, and buses, announced it was reducing full 2019 guidance for increased provisions being taken for the extended recall of Takata airbags and for "ongoing governmental proceedings and measures relating to Diesel vehicles." Other factors now cited by management include slower ramp-ups of new models affecting product availability and lower growth than expected in global automotive demand. The Mercedes-...Daimler provides a range of transportation products, including passenger cars and commercial vehicles, and also financial services. Co. operates in five segments. Mercedes-Benz Cars sells passenger cars and off-road vehicles under the Mercedes-Benz brand and small cars under the smart brand. The Daimler Trucks distributes its trucks (Mercedes-Benz, Freightliner, FUSO, Western Star, Thomas Built Buses and BharatBenz). The vans of the Mercedes-Benz Vans segment are sold under the brand name Mercedes-Benz and Freightliner. Daimler Buses sells completely built-up buses (Mercedes-Benz and Setra). The Daimler Financial Services division supports sales of Co.'s automotive brands.
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