DaimlerChrysler's leaders drive for 'speed.'

Article Abstract:

DaimlerChrysler's on-going consolidation prompted its leaders to come up with speedy strategies. Co-CEO Juergen Schrempp considers speed as the top priority in the merger of the German Daimler-Benz and the US-based Chrysler. Among the moves that will be implemented is the consolidation of Chrysler Financial with the lending division of Daimler, Debis, with the resulting company probably spun off afterwards. The company would make decisions on new products for the company in early 1999, while the budget is expected to be lower than the combined overhead expenses in 1996.

Comment:

On-going consolidation prompts leaders to come up with speedy strategies

Motor vehicles, Daimler AG, Article

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Automakers may need to trim the fat even more

Article Abstract:

Carmakers are prompted to intensify their cost-reduction strategies as they face tighter competition. General Motors Corp, for one, is hoping to lessen costs by $3 billion in 1999, while Ford targets to save $1 billion in 1999, after slashing costs by $3 billion in 1997 and $2 billion in 1998. Cost reductions are generally done through auto parts contracts and the development of new versions of vehicle lineups with less production costs.

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