Rocky road: Dieter Zetsche, Daimler CEO, attends the company’s annual shareholder meeting in Berlin April 10, 2013. The German premium automaker is likely to cut its profit expectations for the year, after it said on Wednesday that its core European markets continue to weaken. Daimler has fallen behind its German rivals BMW, and Audi due to deep-seated problems in China and the latest profit warning is another dent in the credibility of Mr Zetsche, whose contract extension in February nearly ended in a boardroom coup. Daimler may need to revise its full-year profit goal after the car and truckmaker warned that European automotive markets remained in the doldrums.
© The Financial Times Ltd 2015 FT and 'Financial Times' are trademarks of The Financial Times Ltd.