Daimler net profit falls 32 percent on model changeover

FRANKFURT, Germany (AP) — German car, truck and bus maker Daimler AG saw net profit fall 32 percent in the first quarter as costs to launch its new E-Class mid-size weighed on the bottom line, the company said Friday.

The company said in a statement that net profit had been hurt by expenses associated with introducing the new E-Class, a luxury sedan stuffed with new driver-assistance technology the company hopes will make it a highly profitable contributor to earnings.