FRANKFURT, Germany (AP) — The costs of launching the new A-class compact and B-class hatchback hurt earnings at German automaker Daimler AG. Net profit fell 11 percent in the second quarter to €1.51 billion ($1.83 billion) from the same period a year ago, despite strong sales.

The company nonetheless described the earnings as “very good” Wednesday and stuck to its earnings target — but added a cautionary statement that “economic uncertainty and risks exist in nearly all regions.”