Chrysler Sale Gives Daimler First Quarterly Loss Since â03
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Daimler posted its first quarterly loss since 2003, with charges of $3.7 billion from the sale of Chrysler, but analysts cheered big gains by its Mercedes-Benz Car Group.
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DETROIT/FRANKFURT  - DaimlerChrysler said on Wednesday it would cut 13,000 jobs at its Chrysler operations in North America, and raised the prospect that it could even part ways with the loss-making business.
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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 (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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Shares of DaimlerChrysler AG fell yesterday after Nissan officials said the Renault-Nissan auto alliance is not interested in buying the German-American automaker's money-losing Chrysler division.
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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.
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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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VANCE, Ala.  - Cerberus Capital Management LP  is on track to conclude its $7.4 billion acquisition of Chrysler Group, DaimlerChrysler Chief Executive Dieter Zetsche said on Wednesday.
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DaimlerChrysler AG, the world&#39;s fifth- biggest carmaker, reported a third-quarter profit as earnings growth at the Chrysler division offset a decline at the Mercedes Car Group and a year-earlier write-off wasn&#39;t repeated.
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Bayerische Motoren Werke will cut spending by 6 billion euros ($8.5 billion) over five years and change senior management after losing ground to the Mercedes Car Group of DaimlerChrysler.
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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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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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LONDON/GENEVA  - Private equity investors closed in on Chrysler on Tuesday as rival automakers at the Geneva car show displayed scant interest in DaimlerChrysler's  loss-making U.S. division.
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Private equity investors closed  in on Chrysler on Tuesday as rival automakers at the Geneva car  show displayed scant interest in DaimlerChrysler's (DCXGn.DE)  loss-making U.S. division.
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American Axle & Manufacturing Holdings Inc.  posted a quarterly net loss on Friday as it took charges for worker buyouts and idling U.S. manufacturing capacity for parts for mid-size light trucks.
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DaimlerChrysler  dropped its long-standing commitment to Chrysler on Wednesday and said it was prepared to review all its options, including finding new partners for its loss-making U.S. arm.
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Top automaker reports biggest annual loss in car-making history.