Profit at Germany’s Daimler Truck fell 80% in the first quarter, the commercial vehicle manufacturer said on Wednesday, as weaker performance in North America weighed on results.
Net profit dropped to €149 million ($175 million) from €749 million a year earlier.
Revenue declined 13% to €9.98 billion, while operating profit (EBIT) fell 71% to €292 million from about €1 billion in the same period last year.
The DAX-listed company said financial results were primarily affected by lower profitability in its North American business.
