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Cars Blog

Daimler has 4Q loss of $1.9 billion

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February 17, 2009 11:18 am
By Peter C. T. Elsworth

BERLIN -- German automaker Daimler AG today reported a $1.9 billion (euro1.53 billion) fourth-quarter loss - its first in two years - and warned that sales of its marquee Mercedes-Benz cars would decline through 2009 because of the economic meltdown's pinch on the automotive industry, according to The Associated Press.

The nearly $2 billion loss for the maker of Mercedes-Benz, Smart and Maybach, as well as trucks and buses, compared to a profit of $2.1 billion (euro1.7 billion) a year earlier.

The final figure was dragged down by losses and charges at Chrysler, of which Daimler holds a 19.9 percent stake.


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