Daimler Nets $900 Mln Via Hyundai Sale
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LONDON/FRANKFURT  - DaimlerChrysler said it raised  more than $900 million by selling its 10.5 percent stake in  Hyundai Motor Co. Ltd. on Monday, a remnant of its dented  ambitions to build a global carmaking empire.
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German carmaker Daimler AG generated third-quarter earnings before interest and tax (EBIT) of 1.89 billion euros ($2.69 billion), just ahead of market expectations, as profits continued to rebound at its Mercedes-Benz Cars division.
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A detailed sales prospectus for Chrysler Group bidders should be completed soon, according to two sources close to the process, the first step toward a potential sale that would unwind the 1998 merger that created DaimlerChrysler AG .
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South Korea's Hyundai Motor Co. raised on  Friday its 2005 sales target by 14 percent to 2.58 million  vehicles, targeting overseas markets as part of its ambition to  become one of the world's top five auto makers.
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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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Automaker DaimlerChrysler AG said Friday it will charge 400 million euros (&#36;492 million) against earnings in the third quarter to cover the cost of recalls and past quality problems at Japanese truckmaker Mitsubishi Fuso Truck and Bus Corp, which is 65 percent owned by DaimlerChrysler.
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DaimlerChrysler AG sold its 10.5-percent stake in South Korea&#39;s Hyundai Motor Co. for $912 million after CEO Juergen Schrempp&#39;s plan to win more of the Asian market failed.
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German carmaker Daimler (DAIGn.DE)  aims for higher growth and to be one of the world's most  profitable car manufacturers, its chief executive told workers  in a letter, Frankfurter Allgemeine Sonntagszeitung reported.
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Chrysler Group sales outside North America rose 9 percent in February to 15,194 units, the U.S. arm of DaimlerChrysler  said on Monday.
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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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Mercedes-Benz USA, a unit of DaimlerChrysler AG, posted a slight increase in September sales Friday, in a month with one more selling day that the year before.
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DaimlerChrysler, the world's second-largest maker of luxury cars, announced a record stock buyback and raised its profit forecast on higher Mercedes-Benz earnings and lower costs from the sale of Chrysler.
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MONTREAL (CP) - Bombardier Inc. will get a $209-million-US reduction in the price it paid DaimlerChrysler AG in 2001 for the German company&#39;s rail equipment division.
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DaimlerChrysler will spend up to 7.5 billion euros ($10.20 billion) to buy back nearly 10 percent of its shares, the carmaker said after reporting quarterly profit in line with market expectations.
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Hyundai Motor Co (005380.KS), South  Korea's biggest automaker, expects to benefit from the  precarious state of the U.S. economy as more consumers look for  value propositions in their car purchase decisions, an  executive with Hyundai's North American arm said on Monday.
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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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Automaker DaimlerChrysler AG said Wednesday it has signed a contract with Japan&#39;s Mitsubishi Motors Corp. in which the two companies renewed their commitment to joint production and development projects.