AM Online

DaimlerChrysler expects Q3 loss

DaimlerChrysler has lowered its operating profit forecast for 2006 to €5 billion (£3.37bn) after posting an expected operating loss of €1bn (£673m) for its Chrysler Group.

DC expects operating loss for Chrysler to equal €1.2bn (£808m). The company said: “The Chrysler Group is facing a difficult market environment in the United States with excess inventory, non-competitive legacy costs for employees and retirees, high fuel prices and a shift in demand for smaller vehicles.”

As a result of this DC said it would cut Chrysler production in the third and fourth quarters of this year to reduce dealer inventories.



If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Comment as guest


Login  /  Register

Comments

No comments have been made yet.