Daimler has announced losses of 1.06 billion euros

Daimler AG estimated Wednesday a "gradual improvement" operating profit, after showing losses for the third consecutive quarter, to 1.06 billion euros (1.5 billion dollars). Sales fell by 31% compared to Q2 of 2008.

Its net loss amounted to 1.06 billion, or 99 cents per share, compared to the same period in 2008, when the group recorded a profit of 1.4 billion, or 1.4 euros per share. The loss was below expectations but analysts polled by Bloomberg, which mizau on loss of 1.14 billion euros. Company revenues decreased by 25% to 19.6 billion euros.

The government of Germany, Italy and France have tempered auto sales decrease in 2009, after supplies from Europe for the segment decreased in 2008 with the highest level in the past 15 years.

In the second quarter, Daimler sold throughout the world 391.500 cars for passenger and commercial vehicles, with 31% less than the same period last year. Mercedes-Benz brand had sales of 287,200 units, down 19% compared to the same period in 2008, when it sold 354,000 cars.

The market share of Mercedes-Benz in Europe, its main market, fell to 4.1% in the first half of the year, from 4.5% in the same period in 2008.

Source: http://www.daimler.com/

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