October 19, 2018 / 1:05 PM / in a month

Daimler issues profit warning on diesel woes, shares hit 5-year low

FRANKFURT, Oct 19 (Reuters) - German luxury carmaker Daimler AG issued a profit warning on Friday, saying that costs arising from “government proceedings and measures” concerning its diesel vehicles were mainly to blame.

Daimler said it expected its full-year earnings before interest and tax to be significantly below last year’s level.

The company’s shares fell to a five-year low on the news, and dragged down shares in other European carmakers.

Reporting by Douglas Busvine; editing by Thomas Seythal

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