Daimler Q3 hit by Germany slump as CEO forecasts high demand in Q4

CEO of German carmaker Daimler and Mercedes-Benz, Dieter Zetsche.
Fabrice Coffrini | AFP | Getty Images
CEO of German carmaker Daimler and Mercedes-Benz, Dieter Zetsche.

Daimler Chief Executive Dieter Zetsche on Thursday said customer demand remains strong even as a regulatory crackdown on diesel cars and a 13 percent sales slowdown for Mercedes-Benz cars in Germany weighed on third-quarter earnings.

"The automotive industry and thus also Daimler are still in a very challenging environment. The continued high demand from our customers makes us confident for the fourth quarter," Chief Executive Dieter Zetsche said in a statement.

Daimler last week said its full-year operating profit would fall by over 10 percent because of "government proceedings and measures in various regions", in what amounts to the company's second profit warning in four months.