Mercedes doubles profit to 1.2 bln euros
The German carmaker DaimlerChrysler announced that its premium brand, Mercedes Car Group, has nearly doubled its operating profit in the second quarter to 1.2 billion euros 
(1.6 billion dollars), compared to 690 million euros in the same period of 2006. DaimlerChrysler also published ambitious targets for the luxury car maker which included reaching an operating profit margin of 10 percent by 2010 at the latest. The strong second-quarter performance was mainly made possible by the recent introduction of new products and cost cutting measures, the results even exceeded expectations which according to analysts were around one billion euros.
The automaker published these results because of the sale of its troubled US affiliate Chrysler to private equity firm Cerberus. DaimlerChrysler expects its profit to show a healthy increase once it completes the transaction with Cerberus in autumn. The rest of the results are due to be published on August 29.
- Maybach brand to kick the bucket
- Lawmakers, protesters, media converge on 2010 Detroit Auto Show
- Chrysler Financial Announces Leadership Chnages
- Mercedes-Benz 2008 Bike Collection: The trailblazer
- At the Starting Line: The New Mercedes-Benz Actros
- Worldwide Sales At Mercedes-Benz Cars Increase 3.5 Percent In March 2008
- Chrysler LLC Introduces Entire 2009 Dodge Challenger Model Lineup
- Chrysler gives new life to Challenger SRT8
- 2009 Chrysler Aspen and Dodge Durango Hybrids
- Chrysler expected to trim slow-sellers
- Renault Magnum shifts dimensions in 2008
- Debut at NAIAS: 2008 Nissan Rogue Crossover SUV
- Opel Astra: More powerful and over 13 percent more economical
- NAIAS Debut: 2007 Toyota Tundra CrewMax full-size pickup
- Renault Megane F1 Team R26 in Depth
- NAIAS Debut: Acura Advanced Sports Car Concept
- Opel Corsa OPC world premiere in Geneva
- 2009 Honda Civic lineup receives new exterior styling
- Volvo XC60 Concept at NAIAS
- New 2008 Dodge Viper SRT10 at NAIAS