Daimler demand driven down

German car and truck maker Daimler missed quarterly revenue forecasts – despite second quarter revenue of €26.3bn (£23.1bn) – and warned strong demand for cars in the key emerging markets of China and India is likely to slow sharply. China’s car market, the world’s biggest, is seen cooling this year due to rising fuel prices and tighter rules on car registrations. Year-on-year wholesale vehicle sales growth of Daimler’s luxury Mercedes-Benz cars in China tumbled to eight per cent in the second quarter from 82 per cent in the first. Daimler, the world’s number one truckmaker, said the global truck market will likely grow only moderately on slowing demand in China and a weaker Japanese market following the March earthquake.