DaimlerChrysler dumping Chrylser??

[Kirby]

Is the Chrysler group for sale? During a presentation to analysts and journalists today, DaimlerChrysler CFO Bodo Uebber refused to rule out the sale or spinoff of its unprofitable Chrysler group.

"We don't exclude anything here," including structural changes, Uebber said during his third-quarter earnings teleconference today. "We will do our analysis. Second, we will talk about measures. And third, we will draw our conclusions."

Asked again whether DaimlerChrysler has put the Chrysler group up for sale, Uebber repeated the same answer without giving a yes or no. "I don't do any speculation," he said.

Chrysler group losses dragged down DaimlerChrysler's third-quarter financial results. The Chrysler group lost $1.47 billion, down from a $393 million profit for the same period a year ago.

The company predicts Chrysler will lose $1.2 billion in 2006. DaimlerChrysler posted quarterly net income of $680 million and projects a companywide operating-profit target of $6.29 billion for the full year.

The Chrysler group's loss overshadowed a rebound at the Mercedes Car Group, whose quarterly operating profit rose to $1.24 billion.

DaimlerChrysler has assigned a team of senior executives to study seven major facets of the Chrysler group's business. The teams have been asked to improve margins by $1,000 per vehicle. Officials declined to give a timetable for the internal study.

 

[Tom]

So does that mean Dodge as well or just the Chrysler marquee? I thought with the Chrysler 300C and such, the sales have gotten a lot better.

 

[bmw046series]

It wasn't that long ago Chrysler was carrying Mercedes? Talk about jumping the gun??

 

[mclarensmps]

The Chrysler Group was carrying Mercedes because all resources were diverted to sorting Chrysler out, at the expense of the Mercedes-Benz marque.

In the long run this hasnt worked as well as they had hoped and now it is a good idea to dump the C part of DCG and focus on the brand that works.

 

[JPHuston]

I do hope DaimlerChrysler DO NOT dump Chrylser...


















anything which harms Mercedes cannot be all bad........................ [slap] [bmwkick]

 

[Militant-Grunt]

So does that mean Dodge as well or just the Chrysler marquee? I thought with the Chrysler 300C and such, the sales have gotten a lot better.

Hum, I thought it was doing well aswell.

Jeep, Dodge and Chrysler would get the chop.