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Daimler Sees Second-Half Gains as Europe Market Hits Bottom

Daimler AG, the world’s third-largest maker of luxury vehicles, forecast significant gains in second-half earnings as the western European auto market bottoms out and new models spur demand.

Backed by vehicles like the new Mercedes-Benz CLA compact four-door coupe and a new generation of the top-of-the-line S-Class, Daimler expects to grab market share in the second half, Chief Executive Officer Dieter Zetsche said today. In addition to improved sales prospects, cost-cutting efforts are proceeding better than the company had anticipated, he said.