Daimler unsettled capital markets on Tuesday with a higher quarterly loss than expected and by refusing to give a clear forecast for the full year.

The German carmaker’s shares fell almost 7 per cent after the premium car and truck maker swung to a loss of almost €1.3bn ($1.7bn) in the first quarter, more than analysts had expected. In the same period last year it had made a profit of €1.3bn.