The German government has ordered Daimler AG [xe: dai] to recall 774,000 diesel-powered vehicles in Europe in order to update engine-management software, but the recall will likely be "immaterial" for Daimler as the costs are estimated to be less than 100 million euros, or about $118 million, analysts at Evercore ISI said in a note Monday. It is also clear that there will be no fines, and German courts could only threaten penalties in case the company didn't act, the analysts said. Moreover, "we don't see any evidence that Daimler was designing software to deliberately cheat on emission testing," they said.