DaimlerChrysler could sell Chrysler Group
10-25-06, 09:22 AM
#1
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DaimlerChrysler could sell Chrysler Group
DaimlerChrysler could sell Chrysler Group
http://www.leftlanenews.com/2006/10/...hrysler-group/
During an earnings conference with analysts and journalists this morning, DaimlerChrysler CFO Bodo Uebber refused to rule out possibility of a sale or spinoff the struggling Chrysler group, according to trade publication Automotive News.
"We don't exclude anything," said Uebber in response to questions about splitting the companies. "We will do our analysis. Second, we will talk about measures. And third, we will draw our conclusions." Pressed further about the possibility, Uebber said, "I don't do any speculation."
DaimlerChrysler was formed in 1998 when Daimler-Benz and the Chrysler Corporation merged. The company's current brands include Chrysler, Dodge, Jeep, Mercedes-Benz, Smart, and Maybach.
"We don't exclude anything," said Uebber in response to questions about splitting the companies. "We will do our analysis. Second, we will talk about measures. And third, we will draw our conclusions." Pressed further about the possibility, Uebber said, "I don't do any speculation."
DaimlerChrysler was formed in 1998 when Daimler-Benz and the Chrysler Corporation merged. The company's current brands include Chrysler, Dodge, Jeep, Mercedes-Benz, Smart, and Maybach.
10-26-06, 12:03 AM
#8
10-26-06, 09:12 AM
#9
from another thread posted by Overclocker:
Date posted: 10-25-2006
DETROIT — General Motors sharply cut its net loss in the third quarter — and actually posted an operating profit before one-time expenses — while the Chrysler Group's operating loss for the quarter pulled down net income for DaimlerChrysler.
GM's net loss for the quarter was $115 million, compared with a loss of $1.7 billion in the third quarter of 2005. The latest period includes a substantial write-down of $644 million, which means automotive operations actually made money. Total revenue rose 3.6 percent to $48.8 billion, from $47.1 billion a year earlier.
The giant automaker said it is still on track to slash $9 billion in operating costs this year, much of which will come through plant closings and employee buyouts.
Chrysler, meanwhile, had a miserable quarter, posting an operating loss of $1.46 billion, at the same time that its sister division, the Mercedes Car Group, rebounded to an operating profit of $1.25 billion.
Parent DaimlerChrysler had a group operating profit of $1.12 billion, although group net income fell to $680.1 million. Revenue dipped to $44.2 billion in the quarter, from $48.2 billion a year earlier.
What this means to you: Reading between the lines of the financial statements, GM appears to be on much firmer financial footing than it was a year ago, while Chrysler continues to bleed.
Source: http://www.edmunds.com/insideline/do...ticleId=117282
Date posted: 10-25-2006
DETROIT — General Motors sharply cut its net loss in the third quarter — and actually posted an operating profit before one-time expenses — while the Chrysler Group's operating loss for the quarter pulled down net income for DaimlerChrysler.
GM's net loss for the quarter was $115 million, compared with a loss of $1.7 billion in the third quarter of 2005. The latest period includes a substantial write-down of $644 million, which means automotive operations actually made money. Total revenue rose 3.6 percent to $48.8 billion, from $47.1 billion a year earlier.
The giant automaker said it is still on track to slash $9 billion in operating costs this year, much of which will come through plant closings and employee buyouts.
Chrysler, meanwhile, had a miserable quarter, posting an operating loss of $1.46 billion, at the same time that its sister division, the Mercedes Car Group, rebounded to an operating profit of $1.25 billion.
Parent DaimlerChrysler had a group operating profit of $1.12 billion, although group net income fell to $680.1 million. Revenue dipped to $44.2 billion in the quarter, from $48.2 billion a year earlier.
What this means to you: Reading between the lines of the financial statements, GM appears to be on much firmer financial footing than it was a year ago, while Chrysler continues to bleed.
Source: http://www.edmunds.com/insideline/do...ticleId=117282
10-26-06, 04:10 PM
#12
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Most of MB's problems are electronic related because they have loaded there cars with so many new features. And remember the Germans are not know for their electronic expertise.
10-26-06, 04:22 PM
#13
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1. Benzs quality went down the tubes before Chrysler, so lets not blame them for that, though Benz would WANT you to believe that.
2. Chrysler was saving Benz's *** for a minute when Benz was losing money, funny I didn't hear them say "lets drop Mercedes".
Clearly they are still riding Image and prestige, just look at those Dr. Z ads... trying to tell US that Chrysler was better just because they were associated with Mercedes....
2. Chrysler was saving Benz's *** for a minute when Benz was losing money, funny I didn't hear them say "lets drop Mercedes".
Clearly they are still riding Image and prestige, just look at those Dr. Z ads... trying to tell US that Chrysler was better just because they were associated with Mercedes....
10-26-06, 04:56 PM
#15
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They said later in the day they will not sell.
http://money.cnn.com/2006/10/25/news...sler/index.htm
http://money.cnn.com/2006/10/25/news...sler/index.htm