Daimler reaffirmed it would earn more than $3.14 billion of operating profit this year

Article by Christian Andrei, on August 29, 2010

The operating profit of Daimler AG this year would amount to over 2.3 billion euros ($3.14 billion) this year, with all divisions returning to the black. This means that Daimler would be able to pay a dividend again.

After having had a nearly 27% increase in sales of Mercedes-Benz brand luxury cars, Daimler revealed last Wednesday that its retail volumes would rise faster than those for the overall industry.

In a statement made before the annual general meeting, CEO Dieter Zetsche said that it has plans to expand at about double the rate of the global passenger car market in 2010.

It's probable that Zetsche will be reprimanded by shareholders during the general meeting for his decision to omit a payout for the first time in 14 years.

On the other hand, Zetsche has promised to distribute a dividend for 2010 equivalent to about 40% of the group's net profit.

Last week, Daimler entered a cross-shareholding agreement with Renault SA and Nissan Motor Co., strengthening a strategic partnership that will extend from small cars through light commercial vehicles to sharing technology for internal combustion and electric powertrains.

Topics: daimler, profit

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Retired Formula 1 driver Jenson Button has just received his brand new McLaren MSO 675LT Spider. This was confirmed after McLaren Beverly Hills posted a picture on its official Instagram...
by - January 24, 2017
Ford and Toyota have come together in the hopes of standardizing their vehicles’ smartphone integration system. The open-source platform is said to compete with Google Android Auto and Apple CarPlay...
by - January 24, 2017
The race to autonomous driving has been dictated by the need to make the road safer and reduce the incidents of vehicle crashes. Several major carmakers in the world have...
by - January 24, 2017
The Shooting Brake is probably the least rendered body shape in the automotive world. But it’s also the most sought after design among car nuts for its unique, old-fashioned charm....
by - January 23, 2017
Perhaps to make the upcoming Valentine’s day more special, Tinder dating app and Ford UK have cooked up a special blind date for all the single blokes and chicks in...
by - January 23, 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