DaimlerChrysler reports profit slump
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Manufacturing News, Source : TheManufacturer.com
Published : 28 Apr 2005 17:03
DaimlerChrysler has reported a 30 percent drop in net profit from this time last year.
The automaker has seen sales slacken overall and suffered heavy losses at the Mercedes division. The Mercedes Car Group alone reported a loss of 954 million euros ($1.2 billion) compared with a profit of 639 million euros last year at this time.
The company blames a weaker U.S. dollar, decreased worldwide demand for automobiles, and higher prices for their recent woes. On the sunnier side, DaimlerChrysler’s commercial division saw a sales increase of 43 percent, totaling 179,400 trucks, vans, and buses.
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