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Daimler Q2 Net Loss Widens On Weak Sales, Volume; Sees First Signs Of Sales Recovery

German auto giant Daimler AG (DDAIF.PK) reported Thursday that its second-quarter net loss attributable to shareholders was 2 billion euros, wider than last year's loss of 1.33 billion euros. Loss per share was 1.87 euros, compared to loss of 1.24 euros a year ago.

Group EBIT was a loss of 1.68 billion euros, compared to loss of 1.56 billion euros in the prior year.

Revenue for the quarter declined 29 percent to 30.18 billion euros from prior year's 42.65 billion euros.

The company sold 541,800 units in the quarter, 34 percent lower than prior year's 821,700 units.

According to the company, the key figures were strongly influenced by the corona pandemic and the resulting decline in demand for cars, vans, trucks and buses.

Ola Källenius, Chairman of the Board of Management of Daimler AG and Mercedes-Benz AG, said, "We are now seeing the first signs of a sales recovery - especially at Mercedes-Benz passenger cars, where we are experiencing strong demand for our top end models and our electrified vehicles. Going forward, we are firmly determined to continue to improve the cost base of our company."

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