Daimler chief executive Dieter Zetsche said European car markets were in worse shape than they would have seemed late last year.
“The European market is not in a condition we expected three months ago,” he told Reuters at the Geneva show.
Go deeper with GlobalData
An upturn in the second half was more likely than a further deterioration in the region.
“We continue to see it as the more likely scenario that we will see an improvement in the second half,” Zetsche said.
Encouraging signs could be read from economic confidence indicators in Germany rather than the from the car market directly, he added.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
