Overall passenger car sales tumbled by more than 50% in Europe’s major markets last month, with Italy – hit particularly hard by the pandemic – reporting the biggest drop of 85.4%, according to data from the European Auto Industry Association (ACEA). Daimler reported preliminary adjusted first-quarter earnings before interest and tax (EBIT) of 719 million euros ($777.10 million), a 68.9% fall from a year earlier. Preliminary adjusted EBIT for Mercedes-Benz cars & vans fell more than 56% to 603 million euros.
