Daimler's 3rd-Quarter Profit Drops on Diesel-Emissions Expenses
Governments around the world are cracking down on the emissions from internal-combustion engines. Those pressures caught up with German auto-and-truck maker Daimler AG (NASDAQOTH: DDAIF) in the third quarter.
While an increase in sales drove a gain in revenue for Daimler in the third quarter, its operating profit fell 14% from a year ago on a jump in spending required to fix the emissions systems of older diesel vehicles in Europe.
It was Daimler's first year-over-year decrease in quarterly profit in over a year.
Source: Fool.com