Daimler denies plans to split into a passenger car maker and a truck maker

Article by Christian A., on August 29, 2010

A report from the Euro am Sonntag newspaper stated that Daimler doesn't plan on splitting the company into a passenger car maker and a truck maker, according to Andreas Renschler, the head of Daimler AG's commercial truck business. Renschler said that Daimler "can lift the value added in the current constellation as well."

The paper also cited analysts who said that Daimler's valuation is 25% below the valuation of its parts. They raised concerns on whether the current company structure was appropriate.

Last Friday, Daimler said that as part of its second-quarter report on July 27, it will raise its 2010 operating profit outlook after announcing strong preliminary results boosted by its Mercedes-Benz luxury car brand.

Renschler also said that the recovery of the trucks business is being boosted by the broader market. Daimler revealed that the truck division improved its operating results in the second quarter, reflecting "the positive sales development in our major markets as well as measures to sustainably reduce cost."

Aside from posting preliminary second-quarter revenues of $7.6 billion, Daimler Trucks also recorded a pretax profit of $388 million.

Daimler is the world's biggest truck maker and markets commercial and heavy trucks under the Mercedes, Mitsubishi Fuso, Freightliner and Western Star brands.

Topics: daimler, plan

If you liked the article, share on:

Comments

Recommended

After Volkswagen snagged Toyota’s crown as the world’s best-selling automaker, there’s no stopping the Japanese manufacturer from dominating the hybrid arena. As of January 31st , Toyota’s increasing global unit...
by - February 21, 2017
There is no denying that the performance versions of the Jaguar F-Type and the Land Rover Range Rover are definitely hot – both in terms of looks and road dynamics....
by - February 21, 2017
Hyundai is introducing a new 2018 Accent that is not only wider and longer, but is now also sporting a new look that is more serious than the previous model....
by - February 20, 2017
Fans and enthusiasts of the BMW M2 in the United States could now rejoice. This comes as their favorite BMW M2 is getting a limited edition version as prepped by...
by - February 20, 2017
Carmakers usually leave us thirsty for information on whether they would introduce a new, refreshed or face-lifted vehicle and on when they intend to launch it. There are reasons for...
by - February 20, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries