Daimler Posts Fourth Quarter Loss Of $1.95 Billion

German automaker Daimler AG on Tuesday reported a euro1.53 billion ($1.95 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.

The loss for the Stuttgart-based maker of Mercedes-Benz, Smart and Maybach compared to a profit of euro1.7 billion a year earlier. The final figure was dragged down by losses and charges at Chrysler LLC, of which Daimler holds a 19.9 percent stake.

In a sign of the how tough times are for automakers from the U.S. to Japan, the Stuttgart-based company also said it was too soon to provide a detailed forecast on its earnings for 2009, only that "further substantial burdens" were anticipated.

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david999 - 2/17/2009 11:51:18 AM

0 Boost

Things are tough everywhere.

BigShow50 - 2/17/2009 12:24:02 PM

+1 Boost

Surprise, surprise!!! yeah and?!?!?

veyron1001 - 2/17/2009 4:54:00 PM

+1 Boost

Not even near as bad compared to the failing 3.

E36er - 2/17/2009 6:29:05 PM

-1 Boost

Is this news worthy? They better lose their Korean designers if Merc wants to keep their German-o-phile base.

Willis - 2/17/2009 6:57:41 PM

+1 Boost

The new E class and E class coupe look fantastic. And they look Teutonic, not Korean.

autopro - 2/17/2009 7:39:36 PM

+2 Boost

That's what happens when you put those high resudials to move those overpriced inferior products.

VISO - 2/18/2009 6:57:16 PM

+1 Boost

They might have to seek a German bailout.