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

Article by Christian A., 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.

If you liked the article, share on:

Topics: daimler, profit

Comments

Recommended

We’re willing to bet that the Bentley Bentayga is not the first thing that comes to mind for most people who are into off-roading and outdoor activities. It just doesn’t...
by - November 23, 2017
The other day, it was confirmed that Volvo will finally bring the XC40 to US soil, where it will first make an appearance at the 2017 Los Angeles Auto Show....
by - November 23, 2017
There is no question that the new BMW M5 (F90) high performance sports sedan is more powerful, faster and more enticing than the previous model. But for interested customers in...
by - November 23, 2017
Following the Tesla Roadster’s electrifying revelation on Thursday, Musk’s highly ambitious goals have skyrocketed when he tweeted about his future plans for the new sports car. Well, kind of. The...
by - November 23, 2017
Earlier in November at the 2017 SEMA Show in Vegas is when Hennessey unwrapped the Venom F5 to all of us. But it was actually first introduced as a concept...
by - November 22, 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