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Daimler's 2nd-quarter profit slips 25 percent
Thursday, July 24, 2008

FRANKFURT, Germany -- Automaker Daimler AG said today that its second-quarter profit slipped 25 percent, mainly on charges related to its minority stake in Chrysler LLC.

The company said profit in the April-June period fell to 1.4 billion euros ($2.2 billion) from 1.8 billion euros in the same quarter a year ago. The company posted a 6 percent increase in sales to 25.4 billion euros ($40 billion) from 24 billion euros a year earlier.

The Stuttgart-based maker of Mercedes-Benz, Smart and Maybach cars said it continued to assume that its divisions would make their respective sales goals for the rest of the year.

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First published on July 24, 2008 at 12:00 pm