Daimler AG, maker of luxury cars Mercedes-Benz, announced that financial results for the second quarter of 2016 were “significantly” better than expected after iron costs related to defective airbags Takata Corp. Adjusted earnings before interest and taxes rose by 5.6% to 3.97 billion EUR, according to preliminary results announced by the automaker.
Downloading cars and vans with the Mercedes with faulty airbags cost 500 million EUR.
Adjusted earnings before interest and taxes at Mercedes Cars division fell by 1.1% to 2.21 billion EUR in the quarter. The Stuttgart-based company still expects a slight improvement in financial results compared to 2015.