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GIR

Net profit Diamler-Chrysler caves in

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GIR
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While the netprofit of D-C was 1.1 billion euro last year, this year it's just 109 million euro. The two biggest factors are Chrysler and the strong euro.

Suprisingly Mercedes was good for a profit of 1.05 billion euro while Chrysler was responsible for a loss of 948 million euro, this coupled with a weak dollar against a strong euro exchange made the net profit crumble like a cookie.

Chrysler isn't the only one suffering under the high pressue American market, Ford and GM both said their numbers don't look very bright. They both still have to deliver their EBIDTA report though.

On a sidenote.

* BMW sias their sales are down in all segments except the 3 series (guess why) and the supply of sheetmetal is low due to strikes in the German metal industry.

* Audi also complained about the German metal industry but their sales are still strong. No numbers are available as of yet.

* Peugot/Citroen said they were suffering because of a weak homemarket and competition, they were good for a net profit of 869 million euro, 12% less then last year.

* Renault isn't complaining, they even managed to make a netprofit of 1.2 billion euro, 30% higher then last year. I don't know about the rest of the world but the Laguna and Megane are selling like hotcake over here.

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thepolarfoxqx
Geschrieben

Over here, automakers relocated the dip in the market to somewhere in the future. They use obscene incentives and 0% financing to push sales forward to fill in. Both Ford and GM made more money last year in their financing businesses than they did off of cars. That has to say something.

GIR
Geschrieben

Ford and Opel are the only one with insane financing plans over here. The rest do have financing plans but not to the point that they ask for 0% interest. Ford and Opel ask for 1% interest btw.

The rest have things like "Buy now pay a year later", "Buy now and get a free airco" or "Pay in monthly settlements". As far as I know MB and BMW have the highest rate of interest and that's 5.2%, VW has 2.3% for both Audi and VW.

thepolarfoxqx
Geschrieben

well, free everything is going nuts here, ford is giving out free sunroofs, free a/c, free leather, 0% for 5 years, GM will give you 2,000-5,000 USD back, and then give you 0% for 5 years financing. Opel and Ford are american owned, so go figure. BMW lowered to 1.9 for a while, merc to .9%. That works over hear because our prime rate is 4.75%.

kleinefisch
Geschrieben

Plus they are trying to boost sales with 24 hour test drives. I only know of certain GM cars and some Acuras that do this.

thepolarfoxqx
Geschrieben

that "24 hour test drive" is an advertsising gimmick. We test drove a Subaru Legacy in 1994 for a weekend, the length of the test drive is purely dealer discretion. The Jaguar dealer offered us a day or two to see how we liked it, and to give us time to take it over to the BMW dealer so we could test drive the two head to head. We declined on test driving it a few days after we swung by and head to head drove it against a 330xi, by that point we were sold, but we were offered it.

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