October 2, 2018 / 7:37 AM / 18 days ago

Disorderly Brexit scenarios are 'highly worrying' - Daimler CEO

PARIS (Reuters) - The prospect of a disorderly exit of Britain from the European Union is a serious cause for concern, Daimler (DAIGn.DE) Chief Executive Dieter Zetsche said on Tuesday.

FILE PHOTO: Dieter Zetsche, chairman of the board of management of Daimler AG, speaks during a press conference on the first press day of the Paris auto show, in Paris, France, October 2, 2018. REUTERS/Regis Duvignau

“Possible scenarios are highly worrying. We have analysed possible scenarios since the (Brexit) referendum to prepare ourselves. In sum, it is an extraordinarily sad development,” he said at the Paris Motor Show.

For Daimler, an immediate impact would be a possible slowdown in demand for Mercedes-Benz cars and trucks in Britain.

Despite an increase in geopolitical risks, Zetsche said he did not see a downturn in global demand for passenger cars, thanks to robust demand in Asia.

“The Chinese market is still very dynamic,” Zetsche told journalists. “I do not see an inflection point.”

Talks with Chinese shareholder Geely (0175.HK), whose chairman holds a 9 percent stake in Daimler, are going well, Zetsche also said.

“We have a constructive dialogue with our Chinese counterparts. I believe there is potential for both and there are more opportunities than risks. The situation is promising,” Zetsche said.

Geely took a stake in Daimler and has sought an alliance in the areas of electric and autonomous vehicle technologies.

Reporting by Edward Taylor; Editing by Mark Potter and Maria Sheahan

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below