Fri, Aug. 5, 5:20 AM
- Mercedes-Benz (OTCPK:DDAIF) is planning its own distinct line of electric vehicles, challenging BMW and Tesla in a bet that alternative-fuel cars have the potential to become profitable.
- According to Bloomberg, Mercedes will add two electric SUVs and two sedans and create a new sub-brand for the cars, though a name hasn't been chosen yet.
Tue, Jul. 26, 3:49 AM
- Deepening its European footprint in the ride-hailing business, Daimler's (OTCPK:DDAIY) MyTaxi smartphone app will unveil an all-share merger with U.K. rival Hailo as soon as today, Reuters reports.
- In similar deals earlier this year, Volkswagen took a $300M stake in Gett and General Motors (NYSE:GM) invested $500M into Lyft.
Thu, Jul. 21, 4:59 AM
Fri, Jul. 1, 4:21 PM
- Mercedes-Benz (OTCPK:DDAIF +1.5%, OTCPK:DDAIY +1.5%) became yet another automaker to post its best-ever June today, with U.S. total sales up 2.3% to 31,965 vehicles.
- Mercedes-Benz passenger cars were up 1.5% to 28,473 units.
- Van sales rose 26.3% to 3,085; Smart car sales fell 47.4% to 407.
- In key models, C-Class -17.4% to 6,867 units; E-Class/CLS +5.8% to 4,292; GLE/M-Class +27.5% to 4,515; GLC/GLK +47.9% to 3,771.
- YTD Mercedes-Benz sales overall fell 0.5% to 181,132 units (passenger vehicles -1.3% to 162,777 units).
Fri, Jul. 1, 7:54 AM
- Daimler (OTCPK:DDAIF, OTCPK:DDAIY) says its financial services unit has agreed to acquire Athlon Car Lease International for €1.1B ($1.22B), more than tripling the size of its fleet management business.
- Daimler plans to integrate Athlon, which manages a fleet of 250K vehicles in 11 European countries, into its own fleet management business, adding rival makes and lifting the combined number of cars and vans under management to 340K.
- Athlon is part of Dutch bank Rabobank's DLL unit, one of the world's largest vendor financing companies.
Mon, Jun. 6, 6:02 PM
- Daimler (OTCPK:DDAIF, OTCPK:DDAIY) says it will lay off more than 1,200 workers at three plants in the U.S. and one in Mexico, the second such cut this year in response to falling demand for commercial trucks.
- The automaker says most of the jobs eliminated will be in North Carolina, with 600 workers to be cut loose by July 1 at its Mount Holly plant and 200 workers in Gastonia; the cuts amount to ~41% and 15%, respectively, at the plants.
- Also, 170 workers will be laid off from the Portland, Ore., plant, as well as 270 workers at Santiago, Mexico.
Mon, Apr. 25, 4:03 AM
- Major car manufacturers have given mixed signals about their prospects in China amid the country's cooling economy.
- Toyota (NYSE:TM) is not certain it will reach its goal of selling 2M cars by 2025, while Ford (NYSE:F) CEO Mark Field said there is "nothing that we're ready to talk about" in terms of further expansion. Volkswagen (OTCPK:VLKAF) is a bit behind in some of its plans to invest €22B ($24.7B) in China over five years.
- Still, Honda (NYSE:HMC) is looking for sales to increase to 1.07M vehicles in 2016 from the 1.01M that the company and its joint-venture partners sold in 2015.
- Fiat Chrysler (NYSE:FCAU) is aiming for "significant double-digit growth" for jeep sales, although it warns about overall pricing pressure.
- Mercedes-Benz (OTCPK:DDAIF) expects vehicle sales to moderate during the rest of 2016 after jumping 39% on year in Q1.
Fri, Apr. 22, 4:51 AM
- Daimler (OTCPK:DDAIF) shares are down 6% in Frankfurt after Q1 results were overshadowed by news that the German automaker was reviewing its emissions certification process at the prompting of the U.S. Justice Department.
- CFO Bodo Uebber said the company was cooperating, but declined to comment further.
- Daimler's net profit fell 32% to €1.4B in the three months to end-march as currency headwinds overpowered strong Mercedes sales in China.
- Previously: Daimler AG reports strongest unit sales in a quarter (Apr. 22 2016)
Fri, Apr. 22, 4:03 AM
- Daimler AG (OTCPK:DDAIF): Q1 EPS of €1.26 misses by €0.20.
- Revenue of €35B (+2.2% Y/Y) misses by €790M.
- Unit Sales: Daimler Group 683,885 (+7% Y/Y), Mercedes-Benz cars 496, 756 (+8% Y/Y), Daimler Trucks 105,664 (-6% Y/Y), Mercedes-Benz Vans 76,647 (+20% Y/Y), Daimler Buses 4,818 (-15% Y/Y)
- Press Release
Thu, Apr. 21, 6:52 PM
- Daimler (OTCPK:DDAIF) says it's conducting an internal investigation into its exhaust emissions certification, at the request of the Justice Dept.
- The company says it's cooperating fully with authorities and says its experience with federal authorities shows a "conservative communication" supports constructive dialogue.
- Regarding class action suits over its emissions: They're "considered to be without merit and Daimler will defend itself against them with all available legal means."
- Now read Strong Growth Rates For Undervalued Daimler »
Mon, Apr. 11, 4:31 AM
- An experiment in which self-driving trucks crossed Europe has paved the way for adoption of the technology ahead of a crucial meeting of EU transport ministers this week.
- Six European truck companies - Volvo (OTCPK:VOLVF), Scania (OTC:SVKBF), Daimler (OTCPK:DDAIF), Iveco, DAF and MAN - took part in the project, in which they drove in connected convoys along highways.
- The technique, known as "platooning," permits trucks to communicate via wireless technology, allowing them to brake and accelerate together.
Wed, Apr. 6, 4:16 AM
- It has been confirmed that Microsoft (NASDAQ:MSFT) and Amazon (NASDAQ:AMZN) are in talks with Germany's premium carmakers about taking minority stakes in their HERE digital mapping service.
- BMW (OTCPK:BAMXY), Daimler (OTCPK:DDAIY) and Audi (OTCPK:AUDVF) agreed last year to pay €2.5B ($2.8B) for the Nokia business to build a platform for self-driving cars connected to the Internet.
- "We need a cloud provider to handle the huge amounts of data created by HERE and its users," said Thomas Weber, a Daimler board member.
- Previously: Amazon in talks to take stake in HERE (Apr. 01 2016)
Fri, Apr. 1, 4:20 AM
- Amazon (NASDAQ:AMZN) is in talks with BMW (OTCPK:BAMXY), Daimler (OTCPK:DDAIY) and Audi (OTCPK:AUDVF) about taking a stake in their high-definition digital mapping company HERE.
- Last August, the consortium of German automakers agreed to pay €2.5B ($2.8B) to buy Nokia's mapping business as part of plans to develop self-driving vehicles.
- However, they need to ensure that maps can cope with live updates on traffic and road conditions collected from thousands of cars. That's likely where Amazon's cloud computing services comes into the picture.
Mon, Feb. 29, 3:43 AM
- The EPA is requesting information from Mercedes-Benz (OTCPK:DDAIF) following a lawsuit that claimed the luxury automaker made false representations of its BlueTEC vehicles, which were marketed as "the world's cleanest and most advanced diesels."
- A spokesman for Daimler said they are fully cooperating with the request for information, and that Mercedes-Benz cars conform with all rules and norms.
- Previously: Daimler's also under emissions pressure (Feb. 19 2016)
Fri, Feb. 19, 4:15 AM
- An owner of a Mercedes BlueTEC diesel car filed a class-action lawsuit on Thursday, accusing the carmaker of knowingly programming its Clean Diesel vehicles to emit illegally high levels of NOx at levels 65x higher than those permitted by the EPA when operating in temperatures below 50 degrees Fahrenheit.
- Daimler (OTCPK:DDAIF) said the carmaker would examine the levels and defend itself against the suit.
- Previously: When were emissions problems first discovered at VW? (Feb. 19 2016)
Tue, Feb. 16, 7:49 AM| Tue, Feb. 16, 7:49 AM
The Daimler Group is one of the biggest producers of premium cars and the world's biggest manufacturer of commercial vehicles.
Sector: Consumer Goods
Industry: Auto Manufacturers - Major