The company's flagship Mercedes brand saw sales fall in the key Chinese market as it reorganized its sales operation there. High spending of 1.6 billion euros on new plants and equipment also hurt earnings for the quarter.The company said that earnings before interest and tax for this year would come in below last year's figure of 8.1 billion euros, due to lowered market expectations and the weak first quarter performance. The company had previously said this year's earnings would match last year's.
Q1 Profits Down Sharply At Automaker Daimler
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