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Daimler Earnings Jump 30%, While Nissan Minimizes Impact of March Quake

German maker hits new quarterly record - but investors worried by results.

by on Jul.27, 2011

Daimler CEO Dieter Zetsche promises a great year - but investors worry about a Chinese market slowdown.

Credit China.  That’s the message from two major automakers as they report earnings from opposite ends of the globe.  For Daimler AG, a worldwide resurgence in luxury car demand – especially in the fast-growing Chinese market helped it come in with an all-time quarterly record that was up 30% year-over-year.

The numbers weren’t nearly as good for Nissan, but that was no surprise considering the devastating hit the Japanese industry, overall, has taken since the devastating earthquake and tsunami that killed more than 20,000 on March 11 and left the industry in a shambles.  If anything, the 10% decline in net income was less than many had anticipated, while revenues – also driven by China – were up markedly.

The Inside Story!

“Our rapid recovery from the natural disasters in March once again shows the power of Nissan in responding effectively and decisively to crisis,” said Nissan President and CEO, Carlos Ghosn. “Nissan’s performance in the first quarter, despite strong headwinds such as foreign exchange and rising raw material costs, demonstrates our potential to deliver the goals of our recently announced Nissan Power 88 mid-term plan.”


Daimler Boosts ’10 Profit Forecast to $7.6 Billion

Maker credits sales jump, projects more revenue growth.

by on Jul.27, 2010

Growing demand for Mercedes-Benz products has parent Daimler AG swimming in cash.

A 27% increase in sales during the second quarter has prompted Daimler AG to raise its estimate on full year profits to more than  $7.6 billion.

“Our strategy is paying off.  We have a very dynamic development of unit sales and revenue in all divisions. After what was already a very good first quarter, we achieved excellent results in the second quarter,” stated Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars.


Follow the Money!

Mercedes-Benz Cars and Daimler Trucks, in particular, posted significant improvements in their operating profit, added Zetsche, who should feel some personal relief at the latest developments.  Only a year ago, despite the Daimler board’s decision to extend his contract, there were sharp questions being raised about the chairman’s personal long-term prospects.

“We anticipate significant revenue growth in 2010 and we are targeting earnings before interest and taxes from the ongoing business of Euro 6 billion.”