Dieter Zetsche, chief executive officer of Daimler AG, has issued a warning on the increasing risks associated with emerging markets, which have boosted the automaker's growth in the past few quarters. In a Tuesday press conference, Zetsche said that there are "some clouds on the blue sky."
He stated that although the company sees a positive growth on an international scale brought about by emerging markets, caution must also be undertaken as adverse effects like the struggle against China's inflation might have more impact on international GDP development.
Germany-based automakers such as BMW AG and Daimler experienced a boost in business brought about by strong demand from emerging markets in the first quarter, especially China. The passenger car business of Daimler also benefited from the Chinese market demand where it sold 82 percent more vehicle units in the first three months of 2011 than during the same period last year.
