Friday July 10, 2020

Diesel in danger of becoming a Mercedes millstone

Parent company Daimler has warned of a huge hit to profits because of provisions for 'various ongoing governmental proceedings and measures relating to diesel vehicles', without saying what these were

25th June, 2019
Diesel issues to hit Mercedes parent's profits

“We categorically deny the accusation of manipulating emission tests regarding our vehicles,” the luxury car giant said. “A defeat device, a function which illegitimately reduces emissions during testing, has never been and will never be used at Daimler. This holds true for both diesel and petrol engines. Our engines meet and adhere to every legal requirement.”

If Daimler shareholders concluded from that statement that the company wouldn’t have to recall any...

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