DaimlerChrysler Reports Third Quarter Net Income Of $686 Million

Posted by www.eMercedesBenz.com on October 25th, 2006

This just in: despite our ability to single-handedly increase the Mercedes-Benz brand's worldwide sales to an all-time high this year, nothing (aside from a miraculous act by the almighty God) could offset the financial black hole known as Chrysler in the third quarter, with DaimlerChrysler noting a Q3 net income of $686 million (compared to 2005's Q3 net income of $1,085 million). As you probably have already surmised, operating profit is also down, with DC noting third quarter numbers of $1,132 million (compared to 2005's Q3 operating profit of $2,332 million).

These figures come despite positive earnings at the Mercedes Car Group, with the division noting an increase in operating profit by 127% to $1,257 million and an increase in revenue by 8% to $17.1 billion. However, as already mentioned, it wasn't enough to offset the Chrysler Group's Q3 operating loss of $1,477 million and its 23% reduction in revenue to $12.1 billion.

Other divisions worth noting: DC's truck sales increased 2% this quarter to 141,900 units resulting in an increase in operating profit of $705 million (2005's Q3 operating profit: $449 million); and the Financial Services Division improved its operating profit slightly to $565 million (compared to 2005's Q3 operating profit of $518 million).

For more info complete with each DaimlerChrysler division's complete financial statistics and outlook, visit www.eMercedesBenz.com for the full press release.