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Mercedes Downsizes With Concept GLC Coupe

New Benz concept could end up in dealer showrooms.

by on Apr.20, 2015

Mercedes debuted its Concept GLC Coupe at the Shanghai Motor Show this week.

There was a time when automakers raced to see who could build the biggest luxury cars. These days, the push is to go ever-smaller while still maintaining an upscale look and feel.

Already scoring a massive success with its downsized CLA and GLA models, Mercedes-Benz is exploring even more compact white space with the debut of the Concept GLC Coupe at this week’s Shanghai Motor Show. As with so many other recent “concepts,” the German maker isn’t doing much to hide future plans.

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“With its modern and sensual design idiom, the Concept GLC Coupe gives a foretaste of future SUV models from Mercedes-Benz,” explained Gorden Wagener, head of Design at Daimler AG. (more…)

Daimler Raises Dividend Despite 16% Profit Drop

Zetsche lauds record-setting sales efforts in 2014.

by on Feb.05, 2015

Daimler AG CEO Dieter Zetsche said 2014 was a terrific year for the company despite the fact that profits dipped 16%.

Daimler AG, the parent company of Mercedes-Benz brand cars and trucks, saw earnings drop 16% in 2014 despite record sales and revenues.

Daimler Chief Executive Dieter Zetsche, however, said overall 2014 was a terrific year for the German automaker and proposed boosting the annual dividend to shareholder to 2.45 euros.

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“We set new records once again in 2014 – for unit sales, revenue and earnings. This progress is the result of consistent hard work. And it is based on decisions we made several years ago and which we have successfully implemented since then,” said Zetsche, who is also head of Mercedes-Benz Cars. (more…)

Daimler’s Losses Continue To Mount

No turnaround in sight for the German luxury car maker.

by on Apr.28, 2009


"Earnings in the second quarter are expected to be significantly negative once again," Uebber said.

Daimler AG lost more than $1.7 billion during the first quarter as its revenue dropped 22% from weak sales of luxury cars, trucks and vans.

The Daimler Group’s total revenue is likely to decrease significantly in full-year 2009, Bodo Uebber, Daimler’s chief financial officer, acknowledged during a conference call with analysts today. He said that it would be difficult for the German automaker to get back to profitability, though he continued to hold out hope in the second half of the year.

“Earnings in the second quarter are expected to be significantly negative once again,” he said. In addition, Daimler will also be asked to absorb a $700 million write down, according to the terms of new deal that terminates its ties with Chrysler LLC.

Daimler also expects its unit sales to drop dramatically this year.

“The Daimler Group’s total revenue is likely to decease significantly in full-year 2009,” Uebber said. As a result of the dire outlook, Daimler is mounting a quest for $5.2 billion in savings that will reach across the company. The cuts could include delaying or trimming some research and development and capital spending projects that were once untouchable. “We will do whatever it takes,” Uebber said.

Only last week, Ernst Lieb had said in an interview with that, “while we’ve made cutbacks, you’ll not hear (Daimler AG CEO) Dieter Zetsche cutting our R&D.” (more…)