Shares of Daimler Chrysler rose on Friday, after a report stated that General Motors could buy the German-American car maker's struggling Chrysler unit.
DaimlerChrysler AG (NYSE: DCX) will downsize its Chrysler Group unit by cutting 13,000 jobs, or 16 percent of its total, in a bid to make its North American division return to profitability by 2008.
German car manufacturer Mercedes Benz presented the latest version of its entry level compact-car luxury car on Thursday, touting new styling and safety features.
DaimlerChrysler said its U.S. Chrysler division is “not-for-sale,†after the company released a poor third-quarter earnings report results which indicated a 51 percent drop in operating profit. Analysts went on to speculate that Chrysler could by up for sale.
Mercedes-Benz said on Monday it plans to offer its first BLUETEC diesel-powered versions of its M, R and GL-Class sport-utility vehicles in 50 US states at the beginning of 2008.
DaimlerChrysler will not make any management changes over last week's profit warning at U.S. arm Chrysler, which is not up for sale, Chief Executive Dieter Zetsche told a German newspaper.
DaimlerChrysler's Chrysler Group has decided against a cooperation deal with German car maker Volkswagen to produce a new sub-compact car, a German magazine said on Saturday.
DaimlerChrysler, the third largest U.S. car manufacturer, said on Tuesday that it would retain its employee discount offer in a bid to boost declining sales.
As GM, Renault-Nissan prepare to pursue “exploratory†talks about a possible alliance, GM investors are wondering whether the partnership can benefit the world largest automaker, currently in the midst of a major restructuring.
France reacted cautiously on Tuesday to the idea of a tie-up between carmaker Renault, its Japanese partner Nissan and U.S. rival General Motors as Renault shares fell.
Chrysler Group, a unit of DaimlerChrysler AG, will roll out a new program of discounted vehicle pricing in July in a move intended to clear an overhang of unsold 2006 models, the company said on Wednesday.
DaimlerChrysler could face a $640 million fine as a result of a bribery probe by the U.S. justice department and the U.S. stock market regulator, German weekly Der Spiegel said on Saturday.
Mercedes Benz, the luxury arm of Daimler-Chrysler AG, plans to introduce a new generation of diesel powered vehicles in Japan this fall. Mercedes hopes that a re-engineered diesel engine can spur sales in a country where diesel technology is seen as dirty and outdated compared to gasoline.
