Profit at Daimler After Chrysler Sale
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Net income was 1.7 billion euros ($2.5 billion) in contrast to a loss of 12 million euros in the period a year earlier, Daimler said.
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Unlike its rivals, the automaker makes a profit selling cars and gains US market share. By Brett Clanton / The Detroit News. Chrysler&#39;s ongoing recovery got another boost Thursday as the automaker reported
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Third-quarter operating profit at Volkswagen  rose more than 50 percent thanks to resurgent earnings at its core VW brand after the world's fourth-largest carmaker cut thousands of jobs last year.
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DaimlerChrysler AG posted a $1.18 billion profit for the third quarter as sales climbed 2 percent to $43.1 billion. However, the German-American automaker also disclosed that the Mercedes-Benz Group faces tough sledding in months to come.
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Daimler AG  generated third-quarter earnings before interest and tax (EBIT) of 1.89 billion euros ($2.70 billion), just ahead of market expectations, as profits continued to rise at its Mercedes-Benz Cars division.
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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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DETROIT/FRANKFURT  - DaimlerChrysler said on Wednesday it would cut 13,000 jobs at its Chrysler operation in North America and indicated it could sell or spin off the money-losing unit, which would unwind a troubled 9-year-old merger between Chrysler and Mercedes.
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Bolstered by strong sales of new models, Chrysler earned $269 million in the third quarter, up from $171 million a year ago, outperforming its larger US rivals in North America.
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Costs linked to recalls and quality problems at DaimlerChrysler&#39;s Japanese truck and bus unit will hit third-quarter operating profits by $493 million, according to the company.
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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 U.S. Chrysler arm, rebounding from a 1.7 billion euro loss a year ago when it had a large one-time write-off.
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AUBURN HILLS, Michigan  - Chrysler Group, the struggling U.S. arm of DaimlerChrysler AG, on Wednesday said it would cut 13,000 jobs or 16 percent of its work force in a bid to return to profitability by 2008.
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Shares in DaimlerChrysler  extended last week's rally to touch their highest level since August 2001 on Monday amid continued speculation it could sell or spin off loss-making U.S. arm Chrysler.
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German carmaker DaimlerChrysler AG on Wednesday said its total US vehicle sales grew 1.6 percent in October, with a slight rise in sales of Chrysler Group vehicles offset by waning demand at the Mercedes-Benz group.
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The pace of activity around a possible sale of DaimlerChrysler AG'S  Chrysler Group is accelerating, after several potential buyers met with management before presenting preliminary offers by the end of the month, The Wall Street Journal reported.
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DaimlerChrysler said that its net income fell during the 2nd quarter and that it would take a charge of nearly $3.4 billion for the sale of the Chrysler Group to Cerberus Capital Management.
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Shares of DaimlerChrysler climbed yesterday after media reports that General Motors was in talks to buy the German firm's Chrysler division.
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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.