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DaimlerChrysler Pulls Out of Iran, Emboldens Enemies

This image was lost some time after publication.
This image was lost some time after publication.

German magazine WirtschaftsWoche, whose name is neither more nor less ridiculous than any other German magazine we quote, is reporting that DaimlerChrysler is abandoning its majority stake in Setareh, the exclusive distributor of Mercedes-Benz products in Iran. The magazine sites a source who says increased pressure from the US on companies doing business in Iran is the main reason for the move. The DCX pullout contrasts sharply with a business-exchange plan proposed by the Bush Administration to flood the country with Humvees.

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DaimlerChrysler to exit Iran [CNNMoney.com]

Related:
The Jalopnik Morning Shift [internal]

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DISCUSSION

Since you like to quote German magazines, the Wirtschfts Woche (=roughly "Economy Weekly") has new speculations about DCX splitting Chrysler into a new legal entity

http://www.wiwo.de/pswiwo/fn/ww2/…

The "Handelsblatt" has an even more negative analysis. They basically say that if "Project X" fails to bring Chrysler back on track fast, Daimler should completely drop Chrysler.

http://www.handelsblatt.com/news/Wissensch…

But the same paper says that this is unlikely since Mercedes and Chrysler now try to share more components, which the Handelsblatt feels is a big risk for Mercedes and its image.

http://www.handelsblatt.com/news/Unternehm…