The Magic of "Step 2" Continues: DaimlerChrysler Releases 2nd Quarter Earnings; Chrysler Down and Mercedes Up


The magic that is Dr Z and "Step 2" will not, must not and can not be stopped. Unless it's next quarter and you're the Chrysler Group. That's the message coming out of both Stuttgart and Auburn Hills as the German-American hybrid of DaimlerChrysler announces second quarter earnings. But at least for now the numbers look tremendous, with second-quarter earnings of $2.3 billion, more than double what it made in the second quarter last year. The German-based Mercedes Car Group carried the day with a $1 billion operating profit in the second quarter, compared to a $15 million loss in the second quarter of last year. Mercedes continued its Dr. Z-led rebound with higher sales and a fresh n' clean line-up of vehicles. But not everything's peaches n' cream for the automaker led by the man with the mustache so amazing it's top of Google's search engine. The Chrysler Group earned $65 million, down from $695 million during the same quarter year-to-year. On top of that, Chrysler's warning next quarter will be hard and to anticipate an operating loss of close to $600 million. And quick as a flash, the magic of "Step 2" looks to be in danger. Will Dr.Z pull off a miracle? We'll be waiting and hoping.

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