Daimler announces catastrophic loss for the last semester
By Andrew C., 30 Aug, 2010. 0 Comments
It was announced today by Daimler a catastrophic last quarter loss pulled down by considerable losses and charges at Chrysler. The British carmaker swung to a loss prior to interest and tax (EBIT) of 1.95 billion Euros ($2.47 billion) in the last quarter of last year. This does not include the 1.84 billion Euros for the impairment of loans and other Chrysler-related assets. Chrysler lowered the 2008 group EBIT by 1.39 billion Euros. Chrysler has 19.9 equity stake owned by Daimler. The company is optimistic that they will come out of this crisis tougher.
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