Daimler Archives — City Business News

July 23, 2021 No Responses

Daimler Reports $4.3b Quarterly Profit

Germany – German auto maker Daimler reaped strong profits in the second quarter as demand for its Mercedes luxury cars continued to rebound from the depths of the pandemic, generating cash that the company can invest in its shift to electric vehicles....

March 13, 2021 No Responses

Daimler Recalls 2.6m Mercedes-Benz Cars

German luxury automaker, Daimler will recall 2.6 million Mercedes-Benz vehicles in China due to a software design issue, the country’s market regulator said on Friday.Software may fail to communicate a vehicle’s correct location in the event of ...

January 30, 2021 No Responses

Daimler Beats Forecasts In Preliminary 2020 Results

Mercedes-Benz parent company Daimler on Thursday released preliminary earnings data for 2020 showing higher-than-expected operating profit in a year battered by the coronavirus pandemic.At 6.6 billion euros ($8.0 billion), profit before interest...

September 3, 2020 No Responses

Daimler Projects Profit Revival On New Mercedes-Benz S-Class

Daimler was set on Wednesday to launch the new model of its Mercedes-Benz S-Class luxury sedan, which it hopes will help return the German carmaker to profitability next year after the coronavirus pandemic slashed demand for high-end vehicl...

August 14, 2020 No Responses

Daimler Agrees To $3b Diesel Settlements

Daimler said on Thursday it has reached agreements costing nearly $3 billion to settle civil investigations by U.S. regulators and lawsuits from vehicle owners stemming from a long-running probe into software to cheat diesel emissions tests.The settlements ...

July 4, 2020 No Responses

Daimler To Sell French Factory

Daimler will seek to sell its factory in Hambach, France, as part of an overhaul of its production system, the German carmaker said on Friday, prompting France’s finance minister to urge the company to reconsider.The move comes as the auto...

May 27, 2020 No Responses

Daimler Appoints Philipp Schiemer As CEO Of Mercedes-AMG

German automobile giant, Daimler on Tuesday has announced that Philipp Schiemer has been appointed as CEO of AMG, Mercedes-Benz’s high-performance subsidiary. He will move from his current position as the head of Mercedes-Benz do Brasil Ltda. Also, the au...

April 10, 2020 No Responses

Daimler To Restart German Factories April 20

Mercedes-Benz maker, Daimler is to restart work at factories in Germany from April 20, after a weeks-long interruption due to the coronavirus pandemic. “In a few selected factories, we are implementing a coordinated restart of production,” the grou...

April 4, 2020 No Responses

Daimler Secures $13b Loan Facility

Daimler has signed an agreement for a 12 billion euro ($13 billion) credit line to increase its financial flexibility in the current coronavirus crisis. The credit line comes in addition to an 11 billion euro revolving credit with a term...

March 29, 2020 No Responses

Daimler Negotiates $11.03b Credit Line

Daimler is in talks with lenders for a credit facility of at least 10 billion euros ($11.03 billion) to help the car company cope with the coronavirus outbreak. According to Bloomberg, an announcement on the final amount could come as...

January 23, 2020 No Responses

Daimler Records 50 Per Cent Drop In Profit

German luxury car maker, Daimler on Wednesday issued its third profit warning for 2019, as costs related to the diesel scandal, heavy investment in electric vehicles and production issues weighed on earnings. According to the Company, its 2019 earnings before....

November 10, 2019 No Responses

Daimler To Sack 1,100 Senior Management Staff

Daimler will cut 1,100 leadership positions worldwide, or about 10% of its management, German daily Sueddeutsche Zeitung has said, citing a newsletter circulated by the company’s works council. According to Agency Report, a spokesman for Daimler’s ...

April 17, 2019 No Responses

Daimler Gets New SUV Lineup

Daimler AG Chief Executive Officer, Dieter Zetsche has disclosed that the German automaker would add a new compact Sports Utility Vehicle (SUV) to its lineup later this year. Zetsche, who spoke at an event in Shanghai, China exp...