Two German Automakers Report Mixed Earnings
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Germany, with its high costs and reluctant consumers, has become a drag on the country's two largest carmakers, DaimlerChrysler and Volkswagen.
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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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Bayer unveiled a mixed set of second-quarter results, with operating profit beating analysts' expectations although bottom-line earnings stagnated and the pharmaceuticals division continued to cause headaches for the German maker of Aspirin.
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DaimlerChrysler  left investors guessing about plans to return excess cash to shareholders as the German carmaker reported second-quarter operating profits on Wednesday in line with market expectations.
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Germany, with its high costs, reluctant consumers and restive auto workers, has become a major drag on the country's two largest carmakers, DaimlerChrysler and Volkswagen , which both reported mixed earnings on ...
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Volkswagen AG, Europe&#39;s largest carmaker, reported a seventh consecutive decline in quarterly profit as domestic demand weakened and sales growth in China slowed, making the full-year profit target harder to reach.
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FRANKFURT : Labour conflict looks set to boil over in the German automobile sector in the coming weeks as car makers such as Volkswagen and Opel seek to impose rigorous belt-tightening measures as an answer to chronically weak demand.
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DETROIT  - General Motors Corp. is forecast to post a healthy profit when it reports third-quarter earnings Thursday, but European business continues to falter and another severe overseas overhaul is likely.
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Germany&#39;s economic woes deepened as General Motors Corp. and KarstadtQuelle AG announced plans to cut as many as 15,000 jobs in Europe&#39;s largest economy.
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German-US car giant DaimlerChrysler said that it was able to lift overall vehicle sales last year, thanks to the strong performance of its Chrysler and Smart cars, while sales of its prestigious Mercedes brand declined.
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Famed for engineering prowess, the German auto industry is also rife with rivalries and internecine politics.
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DaimlerChrysler's (DCXGn.DE) third-quarter operating profit rose 7 percent, just below analyst expectations, as gains at U.S. arm Chrysler helped offset weaker earnings at premium carmaker Mercedes.
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DaimlerChrysler AG said Thursday it earned euro1.0 billion (&#36;1.27 billion) in the third quarter on good performances from its commercial vehicles division and its U.S. Chrysler arm, rebounding from a large loss a year ago.
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German premium carmaker BMW reported a lower-than-expected 7.6 percent rise in third-quarter pretax profit, but reaffirmed its forecast for record revenues, earnings and car sales in 2004.
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Negotiations between VW and unions about radical cost savings at its German factories resume against a backdrop of falling profits at Europe's largest car maker.
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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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Automaker DaimlerChrysler AG said Wednesday its overall profit fell 14 percent in the second quarter, but that profits rose from its Chrysler Group and the related financial services business in North America.