Two German Automakers Report Mixed Earnings
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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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Automaking giant DaimlerChrysler AG said Thursday it earned nearly $1.2 billion US in the third quarter on good performances from its financial services division and its US Chrysler arm, rebounding from a big loss a year ago when it had a
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German carmakers held out hope on Sunday that a rash of new models would boost sales in the key U.S. market this year, but called for official action to address the dollar's weakness against the euro.
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Volkswagen AG reported a 65 percent drop in third-quarter net profit from the same period a year ago amid fiercely competitive markets and difficult economic conditions such as a strong euro and high oil prices.
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German premium carmaker BMW reported a smaller-than-expected 7.6 percent rise in third-quarter pretax profit Wednesday, but reaffirmed its forecast for record revenue, earnings and car sales in 2004.
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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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Dubai's investment in DaimlerChrysler appears to be about more than the automaker's long-term prospects.
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Germany's auto industry was once its pride and joy. It was the main driving force behind the country's post-war economic miracle and even now still accounts for 20 percent of Germany's gross domestic product ...
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STUTTGART - Despite signs of a global economic slowdown, two of Germany&#39;s leading luxury carmakers - Porsche AG and BMW AG - have said they are off to a strong start to their new business years.
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Caught off guard by the success of Toyota&#39;s hybrid Prius model, German carmakers are racing to catch-up. DaimlerChrysler and GM announced plans on Monday to jointly produce hybrid technology for their cars and trucks.
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General Motors Corp.'s third-quarter earnings rose 3.5 percent, but the company's automotive business lost &#36;130 million primarily because of heavy losses in Europe and lower production and intense pricing pressure in North America.
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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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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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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, the world&#39;s fifth- biggest carmaker, reported a third-quarter profit as Chrysler&#39;s US sales rose. Volkswagen AG&#39;s earnings fell a seventh quarter in a row on higher sales incentives while Fiat SpA&#39;s loss widened.
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Both General Motors and the United Auto Workers want to be seen as driving hard bargains. But each may be driving itself out of business.
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German industrial production grew by a slight 0.1 percent in July, less than expected by analysts, following a drop of 0.2 percent in June, preliminary data corrected for seasonal variations showed on Friday.