/ Mercedes-Benz, News / Mercedes lowers 2012 profit target amid lower earnings in Europe and China

Mercedes lowers 2012 profit target amid lower earnings in Europe and China

Linked In Share
Mercedes lowers 2012 profit target amid lower earnings in Europe and China

Daimler AG has lowered the 2012 profit target for its Mercedes-Benz Cars division, amid lower earnings in Europe and China.

Earnings before interest and tax (EBIT) at the luxury cars unit are expected to fall short of last year’s level, said Daimler CEO Dieter Zetsche.

“We’re gearing up for a challenging environment. The overall environment in Europe is deteriorating, with more negative developments than expected. There is also significantly sharpening competition in China,” Zetsche said at a press conference in Stuttgart, Germany.

Earnings will be also lower in the second half of this year than in the first six months, when Daimler earned 2.57 billion euros, accounting for a drop of at least 60 million euros. Zetsche said Mercedes-Benz has already taken efficiency measures, under a program called „Fit for Leadership”. However, Daimler’s CEO didn’t offer specific details.

The European car market shrank by 8.5 percent in August from a year earlier, according to the ACEA regional trade group. Audi reported the biggest growth in Europe among luxury brands, with an 8 percent sales increase in August. Mercedes rose by 0.5 percent, while BMW posted an 11 percent drop in European registrations.

Mercedes’ results in China were weaker than its competitors’, with an 11 percent increase in deliveries in H1, versus jumps of 38 percent at Audi and 30 percent at BMW.

by Dan Mihalascu (my Google+) - Friday, September 21st, 2012 - filed under Mercedes-Benz, News. Image credit: .
Linked In Share
Related Articles
daimler daimler ag daimler profit dieter zetsche ebit luxury brands mercedes benz pretax earnings profit target


Discuss: Mercedes lowers 2012 profit target amid lower earnings in Europe and China

Leave a Reply















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

Britain and Germany go to war
Britain and Germany go to war1995, the German Grand Prix at the old Hockenheimring. Damon Hill leads at the end of lap one ahead of Schumacher but loses the ...
Dodge Challenger SRT Hellcat to start production this fall
Dodge Challenger SRT Hellcat to start production this fallDodge has recently announced the production start of the new Challenger SRT Hellcat this fall. One of the hottest muscle cars ...
Renault Koleos to get a second generation
Renault Koleos to get a second generationRenault is planning to introduce a second generation of the Koleos as the model in question is said to be officially introduced ...
[VIDEO] Volvo detailing new XC90’s equipment
[VIDEO] Volvo detailing new XC90’s equipmentThe Swedish based automaker Volvo has released several videos in which the equipment found on the new generation of the XC90 is ...
Here’s your original Mini in Lego style
Here’s your original Mini in Lego styleThe original Mini – penned by Sir Alec Issigonis and released by the British Motor Corporation in 1959 – is now available as ...
Smart actually plans ForTwo Cabrio, Brabus and Electric
Smart actually plans ForTwo Cabrio, Brabus and ElectricDaimler’s brand Smart is planning to introduce Cabrio, Electric and Brabus versions of the recently unveiled ForTwo city ...
GM’s European operations managed by the new Opel Group
GM’s European operations managed by the new Opel GroupGeneral Motors, which is pulling the Chevrolet brand out of Europe as part of its strategy to streamline the region’s business ...
Toyota Cross Auris gets spied for the second time
Toyota Cross Auris gets spied for the second timeOur spy photographers have managed to capture the new Toyota Cross Auris on camera for the second time as this was being tested ...
2015 Mazda2 MPS rendered
2015 Mazda2 MPS renderedThe first rendering with the 2015 Mazda2 MPS has recently hit the web and it might preview the top of the line version of the ...
TechArt introduces first Porsche Macan upgrades
TechArt introduces first Porsche Macan upgradesThe aftermarket specialists from TechArt have recently announced the introduction of the first upgrades for the Porsche ...
[VIDEO] 2015 Hyundai Sonata gets tested out by IIHS
[VIDEO] 2015 Hyundai Sonata gets tested out by IIHSThe 2015 Hyundai Sonata has been recently crash tested by the IIHS and it managed to achieve the highest designation, Top Safety ...
[VIDEO] Bentley Continental GT Speed gets tested out by Auto Express
[VIDEO] Bentley Continental GT Speed gets tested out by Auto ExpressThe guys from Auto Express have recently taken out the Bentley Continental GT Speed for a spin as the model has been taken almost ...
NHTSA has not suffered from the GM safety mayhem
NHTSA has not suffered from the GM safety mayhemSince February, General Motors has been involved in one of the two major safety scandals in the automotive industry, with the ...
Australia – Subaru XV Black Edition introduced
Australia – Subaru XV Black Edition introducedSubaru Australia is expanding the XV lineup by adding the Black Edition to the SUVs range where the model in question has been ...
US electric sales continue to expand
US electric sales continue to expandWhile battery electric cars, hybrids and plug-in hybrids have not yet triggered the expected green transportation revolution; ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

Mini_legoP90155673_highRes
Spied Toyota Cross Auris 01
porsche macan tuning techart 1
one-off Jaguar F-Type R Coupe tour de france 2014 1
Nero-Ferrari-LaFerrari-1
bmw 3-series jaguar xe camouflaged promotes 1
srt viper convertible prefix medusa tuning 1
2015 mitsubishi pajero facelift 1
2015 kia sorento teaser 1
2015 buick envision 1
Nissan Juke 80th Special Color Edition 1
Mercedes ML Coupé 01-2

More automotive from inautonews
1995, the German Grand Prix at the old Hockenheimring. Damon Hill leads at the end of lap one ahead of Schumacher but loses the car at the first corner, much to the delight of the German crowd that witnesses their homeboy's triumph. 2014, at the new Hockenheimring. Another Briton falls at the ...
read more
Inautonews Editors Section
Britain and Germany go to war
Britain and Germany go to war1995, the German Grand Prix at the old Hockenheimring. Damon Hill leads at the end of lap one ahead of Schumacher but loses the car at the first ...
Racing tracks – sleeping pill or energy drink?
Racing tracks – sleeping pill or energy drink?The racing weekend took us across the whole world last weekend, with dull or spectacular racing being influenced not only by the quality of the ...
Preview – 2014 German Grand Prix
Preview – 2014 German Grand PrixThe old mighty 7km-long Hockenheimring was built in 1932, and it was true madness, as close as you can get to AVUS. When Jim Clark died here, on the ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety [VIDEO] 2015 Hyundai Sonata gets tested out by IIHSThe 2015 Hyundai Sonata has been recently crash tested by the IIHS and it managed to achieve the ... NHTSA has not suffered from the GM safety mayhemSince February, General Motors has been involved in one of the two major safety scandals in the ...
Safety Section