Chrysler Earnings Dip Amid Mercedes Trouble
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Automaker DaimlerChrysler AG said Thursday that its earnings fell 63 percent in the fourth quarter, with profits from luxury division Mercedes nearly evaporating.
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AutoNation Inc., the nation's largest auto retailer, said Thursday its fourth-quarter earnings fell 31 percent, falling short of Wall Street expectations as drops in California and Florida vehicle sales persisted amid a slumping housing market.
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Ford Motor Co.  and Daimler  Chrysler AG (DCXGn.DE) on Monday reported lower June sales,  citing high gasoline prices and slower sales of trucks and  sport utility vehicles, signaling a weak start to the summer  season.
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SINDELFINGEN, Germany  - DaimlerChrysler reported  fourth-quarter results which fell far short of expectations on  Thursday, hit by a collapse in profits at the Mercedes Car  Group luxury division.
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Ford Motor posted weaker U.S. vehicle sales for August today and cut its fourth-quarter production. Chrysler posted a fifth straight month of stronger results.
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Automaker DaimlerChrysler AG lowered its 2006 operating profit forecast Friday, saying its Chrysler Group expects a $1.52 billion loss in the third quarter, more than double the amount anticipated.
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FRANKFURT Germany, with its high costs, reluctant consumers and restive auto workers, has become a major drag on the country&#39;s two largest car manufacturers, DaimlerChrysler and Volkswagen, both of which reported mixed earnings on Thursday.
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DaimlerChrysler AG  is advancing plans to sell or spin off Chrysler Group, its struggling U.S. unit, and has already received "several expressions of interest from around the world," the Wall Street Journal reported on its Web site on Sunday.
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Chrysler Group, the embattled U.S. unit of DaimlerChrysler AG , reported an 8 percent drop in February sales on Thursday, becoming the last of the Detroit automakers to confirm weaker results for the month.
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DaimlerChryslerâs willingness to cut loose its Chrysler Group is drawing cheers from investors but Wall Street analysts were skeptical of an outright sale of Chrysler to G.M.
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Car dealership group Lithia Motors Inc  on Thursday posted a 47-percent decline in fourth-quarter earnings as higher expenses more than offset a gain in new vehicle sales.
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Sales at German-US carmaker DaimlerChrysler rise 2.1%, as Chrysler makes up for weakness at luxury marque Mercedes.
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General Motors Corp., the world's biggest automaker, said Wednesday its net income fell 37 percent in the fourth quarter, led downward in part by continued struggles at its European operations. But the results beat Wall Street expectations and its shares rose nearly 2 percent.
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Fourth-quarter operating profit at DaimlerChrysler rose to 1.877 billion euros ($2.45 billion) despite an operating loss at U.S. arm Chrysler, the world's fifth-biggest carmaker said on Wednesday.
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The strong euro and cost of eliminating quality problems will eat into earnings at Mercedes, the luxury car brand of German-US auto giant DaimlerChrysler, Mercedes chief Eckhard Cordes said in a newspaper interview.
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Automaking giant DaimlerChrysler AG said Thursday it earned 951 million euros ($1.18 billion) in the third quarter on good performances from its financial services division and its US Chrysler arm, rebounding from a 1.7 billion euro loss a year ago when
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German-US auto giant DaimlerChrysler has slashed its full-year earnings forecasts on the back of anticipated losses at Chrysler -- its struggling US arm.