Daimler warns of ‘significant adverse effects’ of virus outbreak

German luxury carmaker Daimler on Friday warned of risks for the economy and its own business from the outbreak of coronavirus that is spreading in China and around the world.

“Risks for the Daimler Group may not only affect the development of unit sales, but may also lead to significant adverse effects on production, the procurement market and the supply chain,” the Stuttgart-based company said in its annual report.

It also noted that the epidemic posed a risk for economic growth in China, other Asian countries and worldwide.

Daimler CEO Ola Kaellenius announced last week that its key Mercedes-Benz brand had re-started production of luxury passenger cars in Beijing, adding it was still too early to gauge the impact of the coronavirus on Daimler’s business.

Via Reuters