Mercedes Benz Brazil Reports Losses in 1996

12/20/96

The Brazil-based branch of Mercedes Benz will post operating losses in the tens of millions of dollars for 1996, according to company president Ben Van Schaik.

Schaik blames much of the loss on a 28% drop in overall sales of Brazilian trucks and buses in 1996. He said that the company expects to break even in 1997, however, predicting a 10% increase in sales.

The Brazil unit of Mercedes Benz accounts for a fifth of its global sales.

Ryan Houlette -- The Auto Channel