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 Chrysler is a finacial anchor for DCX in Q2
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spoons      POA Site Supporter Prowler Junkie Personal ScrapBook From:West Palm Beach, FL |
posted 07-24-2003 11:39 AM
    
FYI July 24, 2003 - www.Autonews.com FRANKFURT (Reuters) -- DaimlerChrysler said on Thursday second-quarter operating profit slumped 62 percent to 641 million euros ($736 million), hit by a deep loss at its U.S. Chrysler arm. The company, which issued a shock profit warning last month, said it still aimed to post an operating profit of about five billion euros for the full year. The fall in quarterly profit was less than analysts were expecting. It also said risks remained for Chrysler but it was still striving to make a small operating profit at the unit this year. A Reuters poll of 30 analysts put second-quarter operating profit for the group at 288 million euros, a drop of about 83 percent from a year ago. The group cut its full-year revenues target to 135 billion euros from an earlier goal of 145 billion euros, citing falling unit sales and the strengthening of the euro against the dollar. |
Wayne Finch    POA Site Supporter Prowler Junkie Personal ScrapBook From:Toronto, Canada |
posted 07-24-2003 11:44 AM
If Daimler didn't siphon billions in management fees from Chrysler, they'd actually be profitable. It's all media spin - they couldn't possibly show Daimler losing money and Chrysler making money now could they? |
DR PROWLER POA Site Supporter Prowler Florist From:TORONTO,ONTARIO,CANADA |
posted 07-24-2003 12:18 PM
It makes sense,Wayne! So if the merger with Daimler never happened,Chrysler would have been a lot further ahead? |
akadvs1 POA Site Supporter Prowler Junkie From:Macomb, Michigan, USA |
posted 07-24-2003 12:47 PM
I think it would also help it some if the dealers stopped hiking up the prices on their vehicles as much as do from the MSRP. EX: Crossfire (base $32000), MSRP (#35000), dealer asking price ($41000-42000) an extra $5000 over the stick price! Just my two cents......I was bothered when I went down to the dealer & he wouldn't even think of budging down on the price! To think, this is where I did business with when I bought the cat. |
CJ            POA Lifetime Site Supporter Prowler Junkie Personal ScrapBook From:Rochester Hills, MI USA |
posted 07-24-2003 01:33 PM
When Eaton sold us off to Daimler, Chrysler was doing very well, making a profit, ahead in design, etc. We had over 8 billion dollars in CASH reserves. Daimler spent it all on acquiring companies, etc. that we really didn't need. Eaton walked off with 72 million of our dollars, built a mansion in FL and is living the good life. Can't even begin to tell you what the employees lost.  Had we been left on our own, we would most likely be doing just fine. This message has been edited by CJ on 07-24-2003 at 01:35 PM |
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spoons POA Site Supporter Prowler Junkie Personal ScrapBook From:West Palm Beach, FL |
posted 07-24-2003 03:12 PM
I agree CJ... Chrysler was at the top of their game in the 90's and then D-C dragged them down. |
TLRandall POA Site Supporter Prowler Junkie From:CALDWELL, TX, US |
posted 07-24-2003 03:58 PM
I concur. Look at all of the concept vehicles that we were all waiting for. They went down the drain when D bought C. |
Kraut POA Site Supporter Prowler Junkie From:Plymouth, MI |
posted 07-24-2003 07:53 PM
I was at my dealer for the balljoint recall today. While there, I spoke at length with the salesman, who sold me the Prowler. They got their first Crossfire two weeks ago and it's still sitting there. They are asking $35K for it, and so far no bites. |
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