DaimlerChrysler: record $1.6B quarterly profit

Article Abstract:

DaimlerChrysler AG posted a record net income of $1.6 billion, or $1.60 per share, in 4th qtr 1999, up 32% over the same period in 1998. The company, which reached a record annual revenue of $151 billion, also reported a net income of $6.2 billion, or $6.25 per share, for the whole 1999, a 16% increase from 1998. The record profit will allow over 82,000 DaimlerChrysler hourly and salaried workers to receive record profit- sharing checks averaging $8,100.

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DaimlerChrysler's earnings tumble 78%

Article Abstract:

DaimlerChrysler AG announced on Oct 26, 2000 that it its net income for 3rd qtr FY 2000 amounted to $289 million, down 79% from $1.3 billion in the same quarter a year ago. Its revenue for the quarter increased only 3% to $32.8 billion from $32 billion in the previous year. One reason for the poor performance has been attributed to the $512 million 3rd qtr loss of its Chrysler division. During the quarter, DaimlerChrysler also took $400 milion in charges for losses on lease vehicles in the US.

Germany

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Rebates fuel record auto sales in June

Article Abstract:

Several automanufacturers achieved sales records in June 1998 due to huge rebates. Once automanufacturers sustain the pace of the first half of 1998, they will sell over 16 million vehicles in 1998, compared with 15.2 million vehicles sold in 1997. According to analysts, the huge rebates that helped fueled sales in June 198 presumably enticed some buyers who would have purchased later in 1998. Art Spinella of CNW Marketing/Research stressed that automaker incentives in June 1998 averaged an estimated $2,100 a vehicle.

Comment:

Several automakers achieve sales records in June 1998 due to huge rebates

Marketing procedures, Motor vehicles, Article

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