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The battered U.S. auto market will eventually see sales return to levels posted before the economic meltdown, but not for at least another two to three years, the chairman of German automaker Daimler AG said Thursday.
Daimler AG said its U.S. sales last month increased 9.4 percent, led by a jump in Mercedes Benz volumes, as a more stable economic environment fueled increased purchases of the German company's vehicles.
German carmaker Daimler AG started construction Friday on a new euro800 million ($1.2 billion) car production facility in Kecskemet, Hungary, near Budapest, the company said.
German carmaker Daimler AG is considering whether to move some production of its Mercedes-Benz C-Class models to Alabama from Germany, a newspaper reported Wednesday.
Daimler AG unveiled a number of new electric and hybrid cars Tuesday at the Frankfurt Auto Show, saying it plans to keep its focus on luxury and fuel efficiency.
German car, truck and bus maker Daimler AG said Monday its Mitsubishi Fuso Truck and Bus Corporation and Nissan Diesel Motor Co. Ltd. had signed a letter of intent to work more closely together and possibly establish a joint venture in the bus business.
Chrysler LLC's creditors have filed a lawsuit against Daimler AG charging that the German automaker unlawfully stripped billions of dollars in assets from the U.S. carmaker before selling it to a private equity firm.
German automaker Daimler AG said its sales in the U.S. fell by 24 percent in July, amid plunging sales of its Smart fortwo minicar and Mercedes-Benz luxury vehicles.
Germany's Daimler AG said Wednesday that it lost euro1.06 billion ($1.51 billion) in the second quarter as the recession hurt car and truck sales and the company took charges related to its stake in Chrysler. But the company saw signs of a turnaround and its shares rose.
Daimler AG said Wednesday that combined U.S. sales for its Mercedes-Benz and smart micro-cars fell nearly 26.5 percent in June compared with the same month a year earlier.
Three of Germany's leading carmakers, BMW AG, Audi AG and Daimler AG said Monday that sales fell in May compared to a year earlier, but noted that the slump in the auto market was not as bad as in previous months.
Daimler AG announced a restructuring plan Wednesday for its Mitsubishi Fuso Truck and Bus Corp. that is expected to result in some 2,300 job cuts by the end of next year.
Germany's Daimler AG said Monday it has reached a deal to get rid of its remaining 19.9 percent stake in Chrysler LLC, severing the last tie between the two automakers that was formed more than a decade ago.
European aerospace giant EADS NV said Wednesday it has appointed Bodo Uebber, Daimler AG's chief financial officer, as its new chairman.
German automaker Daimler AG will see more cost-cutting and a reduced dividend this year after it warned Wednesday it won't get through the worst of the recession until the second half of this year.
A company owned by the government of Abu Dhabi has pumped an additional $1.41 billion into Aabar Investment PJSC, giving the emirate majority control in the investment firm set to become Daimler AG's biggest shareholder.
Daimler AG's shares rose Monday as investors cheered the announcement that Aabar Investments PJSC bought a 9.1 percent stake in the automaker, making it the biggest shareholder.
German automaker Daimler AG on Tuesday reported a euro1.53 billion fourth-quarter loss — its first in two years — and warned that sales of its marquee Mercedes-Benz cars would decline through 2009 because of the economic meltdown's pinch on the automotive industry.
German automaker Daimler AG said Thursday that sales in its Mercedes-Benz Cars group slipped a relatively modest 2.3 percent in 2008 as the global economic crisis erupted, with deliveries of the ultra-compact Smart car spiking amid rising gas prices.
Daimler AG is buying a 10 percent stake in Russian truck maker OAO Kamaz under a $300 million deal signed Friday, the head of the German company's truck division and other officials involved said.
Daimler AG's truck unit is still looking at acquiring a stake in Russian truck maker Kamaz Inc. and expects to make a decision by year-end, Daimler said Wednesday.
Relations between Chrysler's current and former owners turned ugly Wednesday when private equity firm Cerberus Capital Management LP accused Daimler AG of "intentionally and materially" misleading Cerberus before the German automaker sold Chrysler last year.
The head of Daimler AG's truck business said it does not plan to cut working hours at its German plants in the immediate future, despite the economic downturn, but would not rule out further savings in the United States.
Daimler AG said Thursday it is considering cutting working hours at some of its car production plants in Germany as the economic gloom pushes down sales.
German automaker Daimler AG said Friday that its global sales in October slid 18 percent from the year before in increasingly difficult conditions in major markets.
Daimler AG to aid dealers Daimler AG, the manufacturer of Mercedes-Benz cars, has paid it's dealerships tens of millions of dollars for losses and has offered plenty more to aid dealers in purchasing showroom models.
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