Daimler predicts sales slowdown

Global car sales will rise by 2% this year, but tighter economic conditions will hit European and United States’ volumes, according to Daimler.

Growth in countries such as China, Russia and India has helped carmakers stave off the impact of the slowdown in sales, particularly in the US.

However, Daimler chief executive Dieter Zetsche says the economic climate will continue to worsen impacting sales particularly in Europe and the US.

In addition, tighter credit conditions in the United States and Europe are hitting some carmakers’ credit divisions, which face higher financing costs.

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