DaimlerChrysler Boosts Second-Quarter Earnings

22 July 2002

DaimlerChrysler is reaping the benefits of a turnaround at its American Chrysler unit, with a healthy rise in second quarter earnings.

The auto giant posted profits of €1.1 billion ($1.1bn; £0.7bn), up by over one-third on takings in Q2 2001. Moreover, its earnings were based solely on its car business and do not reflect the proceeds of any divestments.

Most noteworthy was the performance of Chrysler. A year ago the unit fell €148 million into the red for the quarter, but this time round posted €777m profit.

The news completes a good few days for the ‘big three’ US carmakers, with Ford Motor Company and General Motors both reporting healthy Q2 results as well.

Data sourced from: BBC Online Business News (UK); additional content by WARC staff