Daimler Reports $1.51 Billion Loss For 2nd Quarter

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.

The loss in the April-June period compared with a profit of nearly euro1.3 billion a year earlier. Analysts surveyed by Thomson Reuters had expected a net loss of euro1.5 billion.

Despite the third quarterly loss in a row, the company predicted a "gradual improvement" in its operating profit in the coming months. The news helped push Daimler shares up 5.3 percent to euro31.67 in Frankfurt trading.

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WorldofLuxury - 7/29/2009 10:35:38 AM

-2 Boost

BUAHAHAHAHHAHAHA!

- Lexus fan :P
If Lexus does worse, I'd feel very embarrassed. hehe

GTR1 - 7/30/2009 3:40:34 PM

0 Boost

A big company only has more billions to lose. It's all proportional idiots!. MB ain't crap, their the most recognized luxury brand in the world, above Rolls Royce, Bentley, and definitely in house Maybach. People in Africa that don't see luxury cars even know what a Benz is and what that 3 pointed star stands for.

VISO - 7/29/2009 1:05:46 PM

+3 Boost

Maybe they can get a loan from Audi AG to get them through the hard times.

Agent009 - 7/29/2009 2:17:46 PM

+2 Boost

Porsche beat em there... They will have to cry in their beer with BMW for now.

VISO - 7/29/2009 3:53:50 PM

+2 Boost

You are right Agent 009. Porsche took a handout from Audi and now will belong to them. At least BMW and MB have Oktoberfest.

GermanNut - 7/29/2009 5:23:38 PM

0 Boost

Looks like Audi will once again be the only profitable brand out of the Big German 3 for the second straight quarter. Daimler posted a huge loss and BMW is expected to do just the same.

I predict Audi will be the only profitable brand out of the Big German 3 for the entire year of 2009. BMW already mentioned that 2009 is a "transition" year. I guess "transition" stands for the switch from a profitable company to an unprofitable company in the case of BMW.

sector - 7/29/2009 5:33:01 PM

+2 Boost

MB needs to contact a reputable oil Sheik ASAP!

VISO - 7/29/2009 11:08:45 PM

0 Boost

Like your precious lexus is doing so good. Right! Give me a break.

theman440 - 7/30/2009 12:08:11 AM

+2 Boost

Serves 'em right - Daimler destroyed Chrysler - karma baby !

bfghemicuda - 7/31/2009 12:25:34 AM

+1 Boost

Good news for me. Diamler is controlled by a bunch of vultures.