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The diesel scandal just destroyed profit growth at Daimler, maker or Mercedes-Benz



The company said that "various governmental proceedings and measures relating to diesel vehicles" will affect the company's second quarter earnings for the 2019 fiscal year. It said it expects an increase in expenses related to those proceedings.

German automakers have faced years of scrutiny regarding harmful emissions that diesel vehicles produce. Volkswagen ( VLKAF ) – That it rigged millions of diesel engines to cheat on emissions tests.

The revelation trashed confidence among consumers and regulators in Volkswagen's diesel technology and cost of billions of dollars in recalls, legal penalties and settlements.

Daimler said that the time has been "cooperating extensively" with the Commission and did not expect to be

On Sunday, Daimler said that it's 201

9 profit would be essentially flat to last year's.


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