FRANKFURT — German automaker Daimler AG said Thursday that its net profit fell 21 per cent in the third quarter as the company faced backlogs registering vehicles under new emissions rules and regulatory pressure over diesel emissions. Daimler’s net profit fell to 1.76 billion euros ($2.01 billion) from 2.24 billion euros in the year-ago quarter. Revenue fell 1 per cent to 40.2 billion euros. The company, which makes Mercedes-Benz luxury cars, had already warned that profits would decrease due to regulatory actions involving diesel cars and other issues. Germany automakers are also under pressure from the government to reduce diesel emissions.

Source: National Post October 25, 2018 06:09 UTC