April 29, 2020 / 6:48 AM / a month ago

Daimler warns of difficult second quarter, hikes risk provisions

FRANKFURT (Reuters) - Daimler (DAIGn.DE) on Wednesday warned the carmaker faces a difficult second quarter as it hiked credit risk provisions to anticipate rising delinquencies among customers who leased or bought Mercedes-Benz passenger cars.

Daimler reported 448 million euros in credit risk provisions to cover potential credit losses after the coronavirus pandemic caused global demand for passenger car to stall.

Reporting by Edward Taylor; editing by Thomas Seythal

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