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News Breaks
May 28, 2014
06:32 EDTDDAIFDaimler AG to sell dozens of dealerships in Germany, Bloomberg says
Daimler AG is considering scaling back its domestic retail organization and selling dozens of dealerships in Germany to reach a profitability goal, reports Bloomberg. Citing unidenfied people at the carmaker, Daimler plans to sell 36 outlets in Germany that employ 1,500 people and is looking to shut down its Li-Tec battery-cell plant in Kamenz, Germany by 2016. Reference Link
News For DDAIF From The Last 14 Days
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February 11, 2016
09:05 EDTDDAIFDaimler to invest $2.9B in next-gen diesel engine development, Reuters reports
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February 10, 2016
05:41 EDTDDAIFDaimler: Dividend proposal, expected earnings for FY16 'unchanged'
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05:40 EDTDDAIFDaimler recalls 840,000 vehicles in the U.S. as precautionary measure
The US National Highway Traffic Safety Administration notified Daimler (DDAIF) that it has been informed that certain airbag models from the manufacturer Takata (TKTDY), which are also installed in Mercedes-Benz cars and Daimler vans, are potentially defective. On the basis of available information on the components, Daimler AG has decided to recall approximately 705,000 Mercedes-Benz cars and about 136,000 Daimler vans in the United States. The expense for this precautionary recall is estimated at a total of about EUR$340M. The estimated costs will be recognized as a provision in financial year 2015. Therefore net profit will decrease to EUR$8.7B and Group EBIT to EUR$13.2B. EBIT from ongoing business remains unchanged at EUR$13.8B. Daimler AG points out that both the dividend proposal and the employees' profit participation for the successful year 2015 as well as the earnings expected for financial year 2016 remain unchanged. At the Annual Shareholders' Meeting on April 6, 2016, the Board of Management and the Supervisory Board will propose the distribution of a dividend of EUR$3.25 per share. Daimler AG continues to assume that it will slightly increase Group EBIT from the ongoing business in 2016.
February 8, 2016
07:16 EDTDDAIFVW Trucks unit exploring acquisitions, IPO, Bloomberg reports
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February 5, 2016
08:36 EDTDDAIFDaimler CEO: Won't sacrifice margins in effort to overtake BMW, Reuters says
Daimler (DDAIF) CEO Dieter Zetsche said that the auto maker would not sacrifice margins in its effort to overtake BMW (BAMXY) to become the best-selling luxury car brand, Reuters reports, citing comments from Zetsche to analysts at a conference to discuss Q4 results. Zetsche is urging Mercedes to become the leading luxury car brand by 2020 after surpassing Volkswagen's (VLKAY) Audi (AUDVF), the report says. "The volume lead should be the consequence of having the best offering," Zetsche said. "If we accomplish this, it is a natural consequence that more people will choose us." He added, "People said it will create pricing and margin pressure. Exactly the opposite is true." Reference Link
February 4, 2016
05:54 EDTDDAIFDaimler AG sees growth for unit sales, revenue, EBIT in FY16
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05:52 EDTDDAIFDaimler AG reports Q4 EPS EUR 1.90 vs. EUR 1.02 last year
Reports Q4 Revenue EUR 40.43B vs. EUR 35.75B last year. Reports Q4 net profit EUR 2.1B vs. EUR 1.19B last year.
February 2, 2016
07:09 EDTDDAIFTrueCar projects U.S. revenue from new vehicle sales reached $38B in January
TrueCar projects U.S. revenue from new vehicle sales reached a record high for the month of January of $38 billion, up 1.4 percent from a year ago. January marked the auto industry's 25th consecutive month of year over year revenue expansion. Higher average transaction prices helped automakers post a $520 million gain in revenue versus January 2015, despite a likely increase in incentive spending and somewhat lower sales compared with a year ago. As previously announced, TrueCar projects sales of new cars and light trucks contracted 0.3 percent last month. Publicly traded companies in the space include Daimler AG (DDAIF), Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).
February 1, 2016
18:46 EDTDDAIFAutomakers hit with additional costs due to China regulatory shift, Reuters says
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