Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2009 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Mercedes Grand Prix searches for drivers while dispelling board's concerns]]>http://www.autoblog.com/2009/11/18/mercedes-grand-prix-searches-for-drivers-while-dispelling-board/http://www.autoblog.com/2009/11/18/mercedes-grand-prix-searches-for-drivers-while-dispelling-board/http://www.autoblog.com/2009/11/18/mercedes-grand-prix-searches-for-drivers-while-dispelling-board/#commentsFiled under: , ,


The new Mercedes GP car rendered - Click above to view in high-resolution

With two manufacturers leaving the series, four new teams joining the grid and a giant game of musical chairs amongst the drivers ensuing, the off-season between the 2009 and 2010 Formula One World Championships is packing in as much action as the racing itself. But few developments have garnered as much attention as the coup orchestrated by Mercedes-Benz Motorsport, withdrawing from McLaren after fifteen years as its active partner in favor of a more conventional engine supplier role, while buying over 75% of the Brawn GP outfit to enter the sport as a full manufacturer team under the Mercedes Grand Prix banner.

The acquisition has drawn public criticism from Erich Klemm, employee representative on the Daimler board and chairman of its Corporate Works Council, who decried the move as an unnecessary cost when money is tight and other automakers are withdrawing from the series. Chairman Dieter Zetsche responded that the acquisition of the Brawn team will give the company more exposure for less cash: The deal reportedly cost the German automaker some $336 million, but its operating costs are expected to drop to about $74 million annually by 2011, analyzed as far less than what Mercedes was contributing annually to the McLaren budget.

Zetsche might have more trouble, however, explaining to the board how their star driver slipped through their fingers and defected to the team they just ditched. McLaren just announced the recruitment of Jenson Button to team up with Lewis Hamilton for a twin-champ "super team," and Rubens Barrichello is off to Williams next season, leaving the new Mercedes GP team looking for new drivers. Considering they're the reigning champions suddenly flush with cash, they shouldn't have much trouble, though.

Zetsche and Mercedes motorsport boss Norbert Haug are reportedly keen to capitalize with an all-German line-up, fueling speculation that Michael Schumacher could rejoin Mercedes (whose junior driving program gave him his start) and Brawn (who orchestrated all seven of his world championships). Nico Rosberg is thought to already have signed on to switch places with Barrichello, while Nick Heidfeld has been linked with a switch from the departing BMW to its arch-rival Mercedes. Toyota's Timo Glock was also reportedly in the running, but the young German driver signed with newcomer Manor GP instead. Haug has indicated an announcement will come within the next couple of weeks, so stay tuned.

[Source: F1 Live]

Mercedes Grand Prix searches for drivers while dispelling board's concerns originally appeared on Autoblog on Wed, 18 Nov 2009 18:31:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>barrichellobuttonbutton mclarenButtonMclarendaimlerDieter ZetscheDieterZetscheerich klemmErichKlemmglockhamiltonhaugheidfeldheikki kovalainenHeikkiKovalainenjenson buttonJensonButtonlewis hamiltonLewisHamiltonmclarenmercedesmercedes gpmercedes grand prixmercedes-benzMercedesGpMercedesGrandPrixnick heidfeldNickHeidfeldnorbert haugNorbertHaugrubens barrichelloRubensBarrichellotimo glockTimoGlockzetscheWed, 18 Nov 2009 18:31:00 EST<![CDATA[Pics Aplenty: Maybach drops full slate of Zeppelin images]]>http://www.autoblog.com/2009/11/16/pics-aplenty-maybach-drops-full-slate-of-zeppelin-images/http://www.autoblog.com/2009/11/16/pics-aplenty-maybach-drops-full-slate-of-zeppelin-images/http://www.autoblog.com/2009/11/16/pics-aplenty-maybach-drops-full-slate-of-zeppelin-images/#commentsFiled under: , , , ,

Maybach Zeppelin 62 - Click above for high-res image gallery

Hi everybody! You're looking at the $612,000 Maybach Zeppelin 62. We've already given out opinion as to why the new Zeppelin range of Maybachs probably ain't worth the extra money. So never mind the economics of the car -- at least for a few minutes. What we have here is a big old gallery worth of images of the new ultra-exclusive top of the line Maybach in its natural habitat. That's right, running around the French Riviera. We'll get to sneak a peak at the new Zeppelin's interior come Geneva. Maybe even sit inside it if we can catch a security guard dozing on the job.

We've been hearing rumors of Maybach's demise for quite some time, but as soon as some pundit yells game over, Daimler's uber-luxury brand goes and releases another model -- like the kooky Landaulet. And we don't mean kooky in a derogatory way. We mean it in a "We're kooky and we'd love to pull up to a roller derby game in a white-on-white Landaulet with half a dozen of our closest friends" kind of way. Failing that, we wouldn't mind rolling 'round town in a Zeppelin. Especially if we're not paying.


Gallery: Maybach Zeppelin


Gallery: 2010 Maybach Zeppelin in SoCal


[Source: Daimler]

Pics Aplenty: Maybach drops full slate of Zeppelin images originally appeared on Autoblog on Mon, 16 Nov 2009 09:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>daimlerMaybachMaybach 57Maybach 62Maybach ZeppelinMaybach Zeppelin 57Maybach Zeppelin 62Maybach57Maybach62MaybachZeppelinMaybachZeppelin57MaybachZeppelin62maycbachmercedes-benzpics aplentyPicsAplentyZeppelinMon, 16 Nov 2009 09:30:00 EST<![CDATA[Daimler CEO Dieter Zetsche dishes out advice for Chrysler]]>http://www.autoblog.com/2009/11/15/daimler-ceo-dieter-zetsche-dishes-out-advice-for-chrysler/http://www.autoblog.com/2009/11/15/daimler-ceo-dieter-zetsche-dishes-out-advice-for-chrysler/http://www.autoblog.com/2009/11/15/daimler-ceo-dieter-zetsche-dishes-out-advice-for-chrysler/#commentsFiled under: , , , , ,


It's said that certain cultures don't handle the concept of irony well. You know, irony - where the intended answer is the opposite of the actual answer. Case in point: Back when cab forward cars were all the rage and the once mighty Plymouth brand was put out to pasture, Chrysler looked as if it had a fighting chance at remaining solidly within the Big 3. The Dodge Ram was a gauntlet thrown, the V10 Viper had sports car fans atwitter and the Dodge Intrepid really was a smart, good looking car.

Chrysler, meet Daimler, your new "equal." And by equal we mean Daimler gets the all the profits and you get cast off, last-generation Mercedes platforms on which to underpin your new cars. In the case of the 300C/Charger/Magnum, this particular strategy worked, for a couple of years at least. In the case of the Crossfire, not even a little bit. And then under Daimler's watch - and specifically under the eyes of Dieter Zetsche, a.k.a. Dr. Z - Chrysler was piledriven through the mat. Have you driven a Dodge Journey lately?

Here's the irony - Dr. Z is handing out unsolicited advice to Fiat's Sergio Marchionne vis-a-vis Chrysler - and we just can't help but laugh. Zetsche claims, "I continue to be emotional about this company and am crossing my fingers for the very best future." And while we're 51% sure he's being sincere, where was that emotion when he green lit the Jeep Compass? Or the Chrysler Sebring? Or the Dodge Caliber? All cars that led directly to the bankruptcy of Chrysler. We could go on, but you get the idea. Our advice to Sergio? Do the opposite of whatever Zetsche is telling you.

[Source: USA Today | Source photo by TORSTEN SILZ/AFP/Getty Images]

Daimler CEO Dieter Zetsche dishes out advice for Chrysler originally appeared on Autoblog on Sun, 15 Nov 2009 08:46:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ChryslerDaimlerDaimlerChryslerDieter ZetscheDieterZetscheDodgeDr. ZDr.ZFiatJeepsergio marchionneSergioMarchionneSun, 15 Nov 2009 08:46:00 EST<![CDATA[REPORT: Daimler and BMW decline U.S. transmission joint-venture]]>http://www.autoblog.com/2009/10/14/report-daimler-and-bmw-decline-u-s-transmission-joint-venture/http://www.autoblog.com/2009/10/14/report-daimler-and-bmw-decline-u-s-transmission-joint-venture/http://www.autoblog.com/2009/10/14/report-daimler-and-bmw-decline-u-s-transmission-joint-venture/#commentsFiled under: , ,



Daimler AG is one of a shrinking number of automakers that continues to build its own transmissions, but the parent of Mercedes-Benz is now looking to change that. The automaker has been holding talks with rival BMW about possible powertrain collaborations including transmissions. Mercedes already supplies the two-mode hybrid transmissions that BMW is installing in its forthcoming ActiveHybrid X6. However, a proposal to build a joint factory to produce automatic transmissions in the U.S. for the vehicles being built by both companies here has reportedly been scuttled.

Automotive News also reports that a second proposal to shift Daimler's European transmission operations to a new joint venture with BMW and ZF has also been abandoned. The two automakers had been discussing a jointly developed eight-speed automatic transmission but could not agree on technical details.

Mercedes is still looking for ways to offload its transmission operations, saying that it is not core to its business. This will be increasingly true if more of its vehicles switch to electrified powertrains where single speed reduction gears are all that is required. The two companies are still discussing collaborations on engines, however, including a new three-cylinder unit.

[Source: Automotive News - sub. req'd]

REPORT: Daimler and BMW decline U.S. transmission joint-venture originally appeared on Autoblog on Wed, 14 Oct 2009 07:59:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>DaimlerDaimler AGDaimler-AGDaimlerAgjoint ventureJointVenturemercedesMercedes Benzmercedes-benzmercedes-bmw-transmission collaborationMercedes-bmw-transmissionCollaborationMercedesBenzoutsourceoutsourcingWed, 14 Oct 2009 07:59:00 EST<![CDATA[2011 Jeep Grand Cherokee launch threatened by parts dispute?]]>http://www.autoblog.com/2009/10/04/jeep-grand-cherokee-launch-threatened-by-parts-dispute/http://www.autoblog.com/2009/10/04/jeep-grand-cherokee-launch-threatened-by-parts-dispute/http://www.autoblog.com/2009/10/04/jeep-grand-cherokee-launch-threatened-by-parts-dispute/#commentsFiled under: ,

2011 Jeep Grand Cherokee - Click above for high res image gallery

Chrysler and Daimler have been divorced for nearly three years, but the two automakers are still very much entwined when it comes to product. The Chrysler 300, Dodge Charger, and Dodge Challenger use a platform and several components sourced from Daimler. Chrysler's short-term product plans include more Daimler DNA in the the Mercedes-Benz M-Class architecture that forms the basis for the new Jeep Grand Cherokee and Dodge Durango underpinnings.

Unfortunately for the Pentastar, Daimler doesn't seem to want to play parts pimp for its former underling, as it is shorting the company of vital components required to continue operations. In August, Chrysler filed suit against Daimler because the German automaker was withholding parts like torque converters and steering columns. That suit has reportedly been settled, but now Chrysler alleges that the 2011 Jeep Grand Cherokee launch is now in jeopardy. As such, Chrysler has filed a second suit to force Daimler to provide rear axles and other components in a timely fashion, stating that the company needs the parts to build new Grand Cherokee models for testing in advance of the vehicle's May launch.

Daimler spokesman Han Tjan reportedly told The Detroit News that his company feels the situation could be handled outside the courts, but Chrysler doesn't seem inclined to agree. It appears Chrysler is trying to hedge its bets by filing suit, as company spokesman Michael Palese told the News that the company needs the parts in the next 20 days and the company wants Daimler to finalize the contract to supply the parts. Palese added, "Chrysler has too much at stake to take a chance. These are important vehicle programs at a critical point in their launch cycle. We can't afford any delays."

This parts battle is part of a larger war (so to speak) between Daimler and Chrysler over diesel engines. Daimler wants $80 million from Chrysler to cover expenses the former incurred when Chrysler didn't purchase as many diesel engines as expected from Daimler to service the overseas market. Daimler wants the $80 million as a make-good for the lost volume. Chrysler says its recent bankruptcy shields it in this particular conflict, saying that the process resolved any lingering contract disputes, and that its new master, Fiat, isn't on the hook for the money. Ultimately, it boils down to this: Auburn Hills wants the courts to rule that all past contracts are still in effect -- ensuring a parts supply flow from Daimler for the affected new vehicle programs -- and that the Detroit automaker doesn't owe the Germans any money. If things don't go Chrysler's way, it looks as if life could get really ugly for Fiat's new ward.


Gallery: 2011 Jeep Grand Cherokee


[Source: Detroit News]

2011 Jeep Grand Cherokee launch threatened by parts dispute? originally appeared on Autoblog on Sun, 04 Oct 2009 11:28:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>chryslerchrysler 300Chrysler300daimlerdaimler chryslerDaimlerChryslerdodge challengerdodge chargerdodge durangoDodgeChallengerDodgeChargerDodgeDurangogrand cherokeeGrandCherokeeparts disputePartsDisputeSun, 04 Oct 2009 11:28:00 EST<![CDATA[REPORT: Daimler and Renault collaborating on four-door Smart]]>http://www.autoblog.com/2009/09/09/report-daimler-and-renault-collaborating-on-four-door-smart/http://www.autoblog.com/2009/09/09/report-daimler-and-renault-collaborating-on-four-door-smart/http://www.autoblog.com/2009/09/09/report-daimler-and-renault-collaborating-on-four-door-smart/#commentsFiled under: , , ,



Reports of a collaboration between Daimler and Renault on a new four-door model to join the Fortwo in Smart dealerships just won't die, leading us to believe there may be a ring of truth behind the rumors. The last time Daimler set out to partner on a more mainstream Smart, the resulting ForFour - which was based on borrowed underpinnings from Mitsubishi - never met sales expectations and was canceled after a few short years on the market.

Collaborating with Renault on the development of a four-door Smart should help shield Daimler from the high cost of developing a model-specific platform that's unlikely to sell in particularly high volumes. Further, the rumored new model would offer Smart buyers a new option to compete with the new Toyota iQ, which seats up to four occupants despite its diminutive dimensions.

[Source: Detroit News]

REPORT: Daimler and Renault collaborating on four-door Smart originally appeared on Autoblog on Wed, 09 Sep 2009 18:39:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>daimlerdaimler smartDaimlerSmartfour door smartfour-door smartFour-doorSmartFourDoorSmartrenaultrenault daimlerrenault smartRenaultDaimlerRenaultSmartsmartsmart forfourSmartForfourWed, 09 Sep 2009 18:39:00 EST<![CDATA[REPORT: Dodge Sprinter sales to cease as Mercedes opts to sell model itself with new diesel]]>http://www.autoblog.com/2009/09/02/report-dodge-sprinter-sales-to-cease-as-mercedes-opts-to-sell-m/http://www.autoblog.com/2009/09/02/report-dodge-sprinter-sales-to-cease-as-mercedes-opts-to-sell-m/http://www.autoblog.com/2009/09/02/report-dodge-sprinter-sales-to-cease-as-mercedes-opts-to-sell-m/#commentsFiled under: , , ,


2007 Dodge Sprinter - Click above for high-res image gallery

As much as Daimler has been hating on Chrysler lately, one would think that the Pentastar was the cold-hearted deviant who stuck a knife into the heart of the German automaker. The "Merger of Equals" turned out to be a bum deal for Chrysler, but at least it was able to procure some hardware from its German ex. Some parts of the LX platform that underpins the Dodge 300C, Charger and Challenger, and the platform that will underpin the next-generation Jeep Grand Cherokee and Durango all came from Mercedes-Benz, as does the excellent Sprinter van.

Though the Sprinter has been met with some level of success at select Dodge dealers, Mercedes has decided to pull the plug on Chrysler in 2010. About 350 dealers sell the Sprinter as a Dodge, and the large commercial van has managed sales of about 20,000 per year since it donned the Ram head in 2003. Mercedes is switching to 120 dealers branded Daimler Vans USA.

The updated Sprinter van, which will now be branded as a Mercedes, will receive a new 3.0L diesel engine that will reportedly be eligible for sale in all 50 US states. The Daimler dealers will reportedly be able to sell up to 18,000 vans per year, a sizable portion of the van's production quota of 32,000 vehicles per year. The remaining production will be sold as Freightliners. The commercial vehicle company has 45 specialized Sprinter van dealers across the nation.

Daimler says the reason for the switch has a lot to do with the fact that the vehicle is now established in the market, though one has to wonder if the German automaker is making an effort to further distance itself from its former step-child. The big losers in the deal could be the 350 Dodge dealers who spent $30-50K to upgrade their dealerships to sell and service the vans.


Gallery: 2007 Dodge Sprinter


[Source: Automotive News - subs req'd]

REPORT: Dodge Sprinter sales to cease as Mercedes opts to sell model itself with new diesel originally appeared on Autoblog on Wed, 02 Sep 2009 10:57:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>cargo vanCargoVanchryslerdaimlerfreightlinerMercedes-Benzpanel vanPanelVansprinterUPS truckUpsTruckvanWed, 02 Sep 2009 10:57:00 EST<![CDATA[REPORT: Chrysler files suit against Daimler, says former parent is threatening production]]>http://www.autoblog.com/2009/08/26/report-chrysler-files-suit-against-daimler-says-former-parent/http://www.autoblog.com/2009/08/26/report-chrysler-files-suit-against-daimler-says-former-parent/http://www.autoblog.com/2009/08/26/report-chrysler-files-suit-against-daimler-says-former-parent/#commentsFiled under: ,



When Daimler offloaded Chrysler onto Cerberus back in 2007, the well-heeled German automaker was likely ecstatic. Considering the fact that Daimler left Chrysler without much in the way of new product, the feeling was likely mutual. While the two automakers have parted ways, Chrysler still relies on its former parent for some vital parts and as Automotive News tells it, Chrysler says that Daimler suddenly isn't in the mood to give them up.

Chrysler is reportedly suing Daimler for withholding steering columns and torque converters, saying that the shortage of vital parts is threatening the production of the Chrysler 300, Dodge Challenger and Charger, as well as the launch of the next generation Jeep Grand Cherokee. Daimler told AN that Chrysler's claims were "without merit," and at the same time, the German automaker is demanding $78 million from Chrysler for engines the company never delivered. In the formal complaint, Chrysler spokesman Gualberto Ranieri says Daimler's demand for payment "is designed to extort a settlement by wrongfully withholding crucial parts that Daimler has contractually committed to supply to Chrysler Group."

Daimler says Chrysler owes the money since the Auburn Hills, MI based automaker didn't order as many 2.2-liter diesel engines, which are offered in European PT Cruisers, as it agreed to use. Chrysler counters that an April 17 agreement between the two automakers settled several disputes between the two companies, including the volume shortfall. The agreement between the two automakers was likely a preemptive move prior to Chrysler's bankruptcy filing on April 30. Call us crazy, but it looks like it may be a while before Daimler and Chrysler finally kiss and make up.

[Source: Automotive News, subs req'd]

REPORT: Chrysler files suit against Daimler, says former parent is threatening production originally appeared on Autoblog on Wed, 26 Aug 2009 17:20:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>chryslerchrysler 300Chrysler300daimlerdodge challengerdodge chargerDodgeChallengerDodgeChargerpart shortagesPartShortagesWed, 26 Aug 2009 17:20:00 EST<![CDATA[REPORT: Daimler sells 4% of Tesla to Middle East investment fund just two months after acquiring it ]]>http://www.autoblog.com/2009/07/13/report-daimler-sells-4-of-tesla-to-middle-east-investment-fund/http://www.autoblog.com/2009/07/13/report-daimler-sells-4-of-tesla-to-middle-east-investment-fund/http://www.autoblog.com/2009/07/13/report-daimler-sells-4-of-tesla-to-middle-east-investment-fund/#commentsFiled under:


Tesla Roadster - Click above image for high-res gallery

Just two months after buying 9% of Tesla Motors, Daimler has reportedly sold nearly half of that stake. According to Reuters, 4% percent of the electric car startup is now owned by Aabar Investments, an Abu Dhabi-based investment fund. In a way, the stake is still in the family, since Aabar already bought 9.1 percent of Daimler's stock earlier this year. At the time of its original investment, Daimler and the fund indicated an intention to pursue joint projects in low emissions transportation.

Aabar has indicated it would be interested in pursuing some kind of joint venture with Tesla. The fund is controlled by the Abu Dhabi government and managed by the International Petroleum Investment Company with the intent of diversifying beyond oil.

Gallery: Jason Calacanis' Tesla Roadster


Photos copyright (C)2009 Drew Phillips / Weblogs, Inc.

[Source: Reuters]

REPORT: Daimler sells 4% of Tesla to Middle East investment fund just two months after acquiring it originally appeared on Autoblog on Mon, 13 Jul 2009 18:28:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>aabar investements pjscAabarInvestementsPjscdaimlermodel sModelSteslatesla investmenttesla model stesla motorstesla roadsterTeslaInvestmentTeslaModelSteslamotorsTeslaRoadsterMon, 13 Jul 2009 18:28:00 EST<![CDATA[REPORT: Toyota considering cooperation with Daimler on compact, full-size models]]>http://www.autoblog.com/2009/07/01/report-toyota-considering-cooperation-with-daimler-on-compact/http://www.autoblog.com/2009/07/01/report-toyota-considering-cooperation-with-daimler-on-compact/http://www.autoblog.com/2009/07/01/report-toyota-considering-cooperation-with-daimler-on-compact/#commentsFiled under: , , , , , ,



According to a report from Auto Motor und Sport, Toyota is considering a partnership with Daimler to build Mercedes-Benz' A- and B-Class sub-compacts on the Japanese automaker's MC platform. The idea is to maximize the efficiency and output of Toyota's European plants, and could also include sharing development costs on each brand's next generation flagships: the Lexus LS and Mercedes S-Class. Daimler has dismissed the report as "speculation," while a Toyota Motor Europe spokesman toed the company line, only saying "It's part of our normal business practice that we regularly talk to other carmakers but there are no specific projects planned at the moment."

[Source: Auto Motor und Sport via Reuters]

REPORT: Toyota considering cooperation with Daimler on compact, full-size models originally appeared on Autoblog on Wed, 01 Jul 2009 15:41:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>a-classb-classdaimlerlexuslexus lsLexusLslsmercedesmercedes benzmercedes-benzmercedes-benz e-classMercedes-benzE-classmercedesbenzs-classtoyotatoyota daimlerToyotaDaimlerWed, 01 Jul 2009 15:41:00 EST<![CDATA[REPORT: Daimler, Porsche dismiss talks of stake as "speculation"]]>http://www.autoblog.com/2009/06/22/report-daimler-porsche-dismiss-talks-of-stake-as-speculation/http://www.autoblog.com/2009/06/22/report-daimler-porsche-dismiss-talks-of-stake-as-speculation/http://www.autoblog.com/2009/06/22/report-daimler-porsche-dismiss-talks-of-stake-as-speculation/#commentsFiled under: , ,



Daimler's Dieter Zetsche has called 2009 a "Darwin year" for the car business, with the weak and the lame being pulled down by larger forces. Surprisingly, Porsche was one of those businesses that nearly went under, and it has been looking for help almost anywhere it could get it. Reuters says that Germany's Manager Magazin recently reported that Porsche and Daimler held talks in May regarding Daimler taking a stake in either Porsche or VW in order to help Porsche balance its books.

The article asserted that Zetsche and Porsche's Wendelin Wiedeking were looking at options including a cash exchange for a piece of Porsche, or a derivatives purchase from Porsche that would then be converted in VW shares. Spokesmen for both carmakers has since called the report "pure speculation" and are refusing to comment further. If such a scenario were explored, we know how it would help Porsche -- but what would it do for Daimler?

[Source: Reuters]

REPORT: Daimler, Porsche dismiss talks of stake as "speculation" originally appeared on Autoblog on Mon, 22 Jun 2009 10:28:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>daimlerdieter zetscheDieterZetscheearningsfinancialsmercedesmercedes benzmercedes-benzMercedesBenzporschewendelin wiedekingWendelinWiedekingMon, 22 Jun 2009 10:28:00 EST<![CDATA[Daimler agrees to give up remaining stake in Chrysler]]>http://www.autoblog.com/2009/04/27/daimler-agrees-to-give-up-remaining-stake-in-chrysler/http://www.autoblog.com/2009/04/27/daimler-agrees-to-give-up-remaining-stake-in-chrysler/http://www.autoblog.com/2009/04/27/daimler-agrees-to-give-up-remaining-stake-in-chrysler/#commentsFiled under: , ,



Hot on the heels of the Chrysler's tentative deal with the UAW to cut the automaker's VEBA obligations, Daimler AG has announced it's finally reached an agreement to unload its remaining stake in Chrysler. According to Daimler's release, the company's 19.9% stake in Chrysler will be redeemed and Daimler write off a $1.5 billion loan which will help (if it can) avoid putting Chrysler into bankruptcy and facilitate the automaker's deal with Fiat. The agreement is likely to reduce Daimler's second-quarter earnings (before interest and taxes) by around $700 million, however, the German giant had already written down its stake in Chrysler last year. The agreement also includes Daimler paying $200 million into Chrysler's pension plans once the agreements are definitive, and another $200 million each year until 2011. All the gritty details are available in the press release below the fold.

[Image: Bill Pugliano/Getty]

Continue reading Daimler agrees to give up remaining stake in Chrysler

Daimler agrees to give up remaining stake in Chrysler originally appeared on Autoblog on Mon, 27 Apr 2009 18:32:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>19.9chryslerdaimlersharesplitstakestockMon, 27 Apr 2009 18:32:00 EST<![CDATA[REPORT: If Chrysler goes down, it could cost Daimler $1 billion]]>http://www.autoblog.com/2009/04/10/report-if-chrysler-goes-down-it-could-cost-daimler-1-billion/http://www.autoblog.com/2009/04/10/report-if-chrysler-goes-down-it-could-cost-daimler-1-billion/http://www.autoblog.com/2009/04/10/report-if-chrysler-goes-down-it-could-cost-daimler-1-billion/#commentsFiled under: , ,



Nerves are frazzled in Stuttgart over the troubles facing Chrysler. Let's not forget that Daimler still has a skin in the Chrysler game, and while everyone natters and frets about whether or not Fiat will prove to be the Savior Of Auburn Hills, execs are also thinking about the worst-case scenario in the halls of Daimler.

According to the Detroit Bureau, Bodo Uebber, Daimler's Chrysler guy, reported recently that concerned shareholders are rightfully nervous, as Daimler could be stuck with a $1 billion liability if Chrysler ist kaput. Unfunded pensions and potential claims from suppliers could result in very bad things for Daimler. Cerberus and the German automaker are also duking it out over whether Chrysler's health was honestly disclosed at the time of the deal, tying up any developments with the remaining 19.9 percent of Chrysler that Daimler still owns. Both Uebber and Dieter Zetsche, Daimler's CEO, are actively trying to unload the company's stake in Chrysler to Cerberus, but predictably, that conversation isn't going anywhere at the moment.

[Source: The Detroit Bureau | Image: Bill Pugliano/Getty]

REPORT: If Chrysler goes down, it could cost Daimler $1 billion originally appeared on Autoblog on Fri, 10 Apr 2009 11:29:00 EST. Please see our terms for use of feeds.

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Last October we advised you not to hold your breath for Daimler's Car2Go program to come to America. You can breathe again. If you live in Austin, Texas you'll be able to rent a mild hybrid Smart ForTwo by the minute this fall. Austin was chosen because of its university population and its concern for the environment.

Car2Go makes its fleet available on-demand, with a clear price structure, and you can keep the car as long as you wish. Those in the program access the vehicles by swiping a tag on their driver's licenses over a card reader on the car. As with the pilot program in Ulm, Germany the service will start in Austin with an initial fleet, expected to consist of around 200 Smarts that will be available to city employees first and then expand to public use at the conclusion of a trial period.

Gallery: smart fortwo in Texas and Germany


[Source: Canadian Driver]

Daimler's Car2Go program coming to Austin, Texas this fall originally appeared on Autoblog on Thu, 02 Apr 2009 08:28:00 EST. Please see our terms for use of feeds.

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The global auto industry is enduring its worst crisis in decades, and iconic companies with 100-year histories are being pushed to the brink. Luxury automaker Daimler is no different, with Mercedes-Benz sales down 17% in the past quarter and posting a loss of $1.95 billion in the fourth quarter alone. To help alleviate the a major cash crunch, Daimler has sold off 9.1% of the company to Abu Dhabi firm Aabar Investments PJSC.

Aabar purchased 96.4 million shares at a 5% discount under the stock price of 21.34 euros. Daimler shares were selling for 45 euros a piece before the rug was pulled out from under global luxury car sales. Both companies consider the partnership to be a long-term investment, as Daimler will need all the help it can get weathering brutal automobile sales slump. The two companies will also collaborate on electric vehicle development and Daimler will build a training center in Abu Dhabi. Thanks for the tip, Abdul!

[Source: Bloomberg | Photo: Torsten Silz/Getty]

REPORT: Daimler sells 9.1% stake to Abu Dhabi firm for $2.7 billion originally appeared on Autoblog on Mon, 23 Mar 2009 07:58:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Daimlermercedes benzMercedesBenzMon, 23 Mar 2009 07:58:00 EST<![CDATA[Freightliner debuts RunSmart Predictive Cruise Control]]>http://www.autoblog.com/2009/03/22/freightliner-debuts-runsmart-predictive-cruise-control/http://www.autoblog.com/2009/03/22/freightliner-debuts-runsmart-predictive-cruise-control/http://www.autoblog.com/2009/03/22/freightliner-debuts-runsmart-predictive-cruise-control/#commentsFiled under: , ,



The next step in cruise control comes courtesy of Freightliner semis and GPS data company NAVTEQ. Freightliner broadened communication between the cruise control and map data: the GPS transmits information on the road ahead up to a mile, and then the cruise control computes the best speed at which to cover the distance with the greatest fuel efficiency.

It's called RunSmart Predictive Cruise, and it employs slope data from the NAVTEQ system that has been collected on 200,000 miles of the most used truck routes. While RunSmart is looking for peak efficiency, it won't sacrifice speed; the system remains within 6% of the set speed. It's an available option on Freightliner's Detroit Diesel DD15-equipped Cascadia model with the 72-inch raised roof.

[Source: Daimler]

Freightliner debuts RunSmart Predictive Cruise Control originally appeared on Autoblog on Sun, 22 Mar 2009 13:34:00 EST. Please see our terms for use of feeds.

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In an all-too-rare win for Detroit's automaker base, the state of Michigan and Daimler have reportedly reached a deal to see a new Mercedes-Benz hybrid and electric car research and development facility built in neighboring Ann Arbor. Among other things, the facility will develop hybrid transmissions, electric motors, and powertrain management software.

The German automaker is reportedly seeking a 65,000 square-foot facility to house the R&D works, and the development will also see the relocation of an existing facility currently located in Troy. Over the course of the next decade, the new operation is expected to represent a $9.9 million investment and generate 454 jobs - 223 of them directly. However, in order to secure the facility in Michigan (California and South Carolina were reportedly also considered), the state has had to cough up a tax break package worth some $7.5 million over 10 years.

[Source: MLive]

REPORT: Daimler to open Mercedes hybrid electric research base in MI originally appeared on Autoblog on Thu, 19 Mar 2009 13:56:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Ann ArborAnnArborDaimlerhybrid carsHybridCarsMercedes-benzmercedezMichiganRDstate of michiganStateOfMichiganTroyThu, 19 Mar 2009 13:56:00 EST<![CDATA[BMW and Daimler consider swapping shares in cross-ownership plan]]>http://www.autoblog.com/2009/03/09/bmw-and-daimler-consider-swapping-shares-in-cross-ownership-plan/http://www.autoblog.com/2009/03/09/bmw-and-daimler-consider-swapping-shares-in-cross-ownership-plan/http://www.autoblog.com/2009/03/09/bmw-and-daimler-consider-swapping-shares-in-cross-ownership-plan/#commentsFiled under: ,



Luxury automobile sales have been hit especially hard during the global economic disaster, and Daimler and BMW may become much closer allies as a result. German magazine Der Spiegel published a report stating that the two luxury giants are working to combine their purchasing power to save hundreds of millions of dollars. But the really interesting cooperation will reportedly happen in the form of a stock swap.

Under the alleged agreement, each company would give the other a 7% stake in the other. The move would strengthen the German automaker's new bond and perhaps lead to further cash-saving collaboration down the road. The magazine reports that the Quandt family, who own 46% of BMW, isn't keen on the idea due to Daimler's 1998 takeover of Chrysler. But the German government has allegedly been contacted to gauge the possibility of overriding any opposition to the deal. Talk of a BMW/Daimler tie up have been circulating for years, but the rumor tree has yet to bear any fruit. Due to the shabby state of the global automotive market, that could change quickly.

[Source: Automotive News - Sub. Req.]

BMW and Daimler consider swapping shares in cross-ownership plan originally appeared on Autoblog on Mon, 09 Mar 2009 10:02:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bmwdaimlermercedes benzMercedesBenzstock swapStockSwapMon, 09 Mar 2009 10:02:00 EST<![CDATA[Daimler opens office in Baghdad, Iraq]]>http://www.autoblog.com/2009/02/20/daimler-opens-office-in-baghdad-iraq/http://www.autoblog.com/2009/02/20/daimler-opens-office-in-baghdad-iraq/http://www.autoblog.com/2009/02/20/daimler-opens-office-in-baghdad-iraq/#commentsFiled under: , ,



As a small step that could be considered a healthy vote of confidence in Iraq's return to stability, Mercedes has established a corporate representative office in Baghdad. Daimler set up shop in Erbil, Iraq last February, opening a training center that would get mechanics ready for coming Mercedes products. By installing a corporate representative, the company will have someone on the ground to figure out how best to introduce new Mercedes products to the country. The rep will focus on examining and developing the market for trucks and buses, which Daimler should have all to itself for a while.

[Source: Daimler]

Daimler opens office in Baghdad, Iraq originally appeared on Autoblog on Fri, 20 Feb 2009 08:01:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>busbussesdaimleriraqmercedesmiddle eastMiddleEasttrucktrucksFri, 20 Feb 2009 08:01:00 EST<![CDATA[Daimler posts $1.95 billion fourth-quarter loss]]>http://www.autoblog.com/2009/02/17/daimler-posts-1-95-billion-fourth-quarter-loss/http://www.autoblog.com/2009/02/17/daimler-posts-1-95-billion-fourth-quarter-loss/http://www.autoblog.com/2009/02/17/daimler-posts-1-95-billion-fourth-quarter-loss/#commentsFiled under: , ,



Daimler is the latest in a long line of automakers to post a heavy decline for Q4 earnings in 2008. The German automaker was in the red to the tune of $1.95 billion, which is isn't a surprise considering October through December was among the worst periods for car sales in modern times. The loss was also a big swing from the $2.14 billion in profit Daimler posted in Q4 2007. Sales shrunk by 17% for the quarter as well, with net cash flow down by 12% to $26.9 billion. A big portion of Daimler's loss came courtesy of Chrysler, as the German automaker's 19.9% stake resulted in $1.4 billion in losses. Daimler is looking to unload it's share of Chrysler, but at this point will likely have to pay a massive premium to take the Auburn Hills, MI-based automaker off its books.

Daimler still managed a $1.77 billion profit in 2008, though that's down from $3.77 billion just one year earlier. Don't expect Daimler to make any predictions for 2009, either. The automaker is expecting continued struggles ahead for Mercedes-Benz, as the economic downturn is pinching wealthier buyers just as much as the rest of us.

[Source: Detroit News | Photo by TORSTEN SILZ/AFP/Getty]

Daimler posts $1.95 billion fourth-quarter loss originally appeared on Autoblog on Tue, 17 Feb 2009 15:59:00 EST. Please see our terms for use of feeds.

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