DaimlerChrysler profit up; Schrempp to leave at end of year

The second-quarter profit numbers are in at DaimlerChrysler, and they look quite good. From $46.5B in revenue, the company earned $892M, up 28% from a year ago. You’ve got to love an industry where a 2% profit margin is something noteworthy. Things would have looked better without smart and Mercedes-Benz, as each of those divisions continues to lose money. Mercedes car sales fell 4% during the quarter, while Chrysler Group sales increased by 3% (this does not take into account the month of July). In other news, Jurgen Schrempp will be replaced by Dieter Zetsche in the organization’s top spot at the end of 2005, with current Chrysler COO Tom LaSorda taking charge of the Chrysler Group.

By eric@bryantperformance.com
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The second-quarter profit numbers are in at DaimlerChrysler, and they look quite good. From $46.5B in revenue, the
company earned $892M, up 28% from a year ago. You’ve got to love an industry where a 2% profit margin is something
noteworthy. Things would have looked better without smart and Mercedes-Benz, as each of those divisions continues to
lose money. Mercedes car sales fell 4% during the quarter, while Chrysler Group sales increased by 3% (this does not
take into account the month of July). In other news,
Jurgen Schrempp will be
replaced by Dieter Zetsche in the organization’s top spot at the end of 2005, with current Chrysler COO Tom LaSorda
taking charge of the Chrysler Group.