Although DCX's American division's first-quarter profits were down from $303 million to $252 million, it was the one bright spot in DaimlerChrysler's report, as overall profits fell 30%, largely in part to continuing woes at Mercedes-Benz and Smart, which posted a $1.2 billion loss. The company blames the weaker dollar, higher materials costs and a slack demand in the overall automotive market. A bright spot? The commercial vehicles division, which pulled an impressive 43% gain. We're wondering if some of Chrysler's comeback-kid mojo will rub off on Mercedes. Let's just hope salvation doesn't come in the form of another K-car.
-Davey G. Johnson
Chrysler profits but DCX earnings down 30 percent in first quarter [Detroit Free Press]
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