Mercedes Sees 2004 Profit Below 2003
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DaimlerChrysler AG&#39;s Mercedes Car Group Thursday warned that operating profit for this year will decline despite a rise in car sales, as it boosts spending to improve product quality.
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The largest U.S. retailer of used cars posted a lower quarterly profit and cut its outlook for the year, hurt by increased funding costs related to its auto finance unit.
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The automaker said it lost $2.75 billion in the fourth quarter, a considerable improvement from the $12.6 billion that it lost in 2006.
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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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SINDELFINGEN, Germany  - DaimlerChrysler reported  fourth-quarter results 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 Co. F.N on Wednesday said  it was setting first-quarter North American production below  the 2004 quarter's levels as U.S. sales fell again in November.
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Ford Motor Co. F.N on Tuesday said  its automotive business will improve this year, but overall  earnings will fall due to weaker profit at its financial  services unit.
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No. 1 Japanese automaker posts drop in 3Q earnings, but boosts forecast for global sales in 2004. TOKYO  - Toyota Motor Corp.
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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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DaimlerChrysler&#39;s flagship Mercedes Car Group intends to regain peak profit levels within the next few years after operating profit dips in 2004, division had Juergen Hubbert said on Thursday.
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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.
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DaimlerChrysler DCXGn.DE cut its   2006 operating profit forecast by around 1 billion euros ($1.27   billion) on Friday and predicted U.S. arm Chrysler could lose   1.2 billion euros in the third quarter, much worse than first   thought.
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After hurricanes Charley and Frances, and with Hurricane Ivan&#39;s arrival, American Financial Group says its 2004 profits will come in at the low end of its forecasts.
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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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German car maker Mercedes-Benz said Tuesday that the performance of its newest C class line had pushed 2007 sales to a record 1.29 million vehicles despite a slumping domestic market.
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Auto retailer reports that profit fell 6 percent in the third quarter as sales of new cars declined. DETROIT  - Auto retailer CarMax Inc.
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DaimlerChrysler DCXGn.DE cut its   2006 operating profit forecast by around 1 billion euros ($1.27   billion) on Friday and predicted U.S. arm Chrysler could lose   1.2 billion euros in the third quarter, much worse than it had   first thought.