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Daimler AG

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  • Daimler puts aside $748 million for antitrust case Thursday, 18 Dec 2014 | 9:30 AM ET

    BERLIN— Daimler AG says it's booking a 600 million-euro charge related to European Union antitrust proceedings against commercial vehicle makers. Daimler said Thursday it's increasing a provision first made in 2011 to deal with the investigation by the EU's executive Commission after reviewing documents on which Brussels based its accusations, which it...

  • SHANGHAI, Dec 13- China could overtake Germany and Italy to become the biggest market for Daimler AG's mini car brand Smart in a few years, Smart chief executive Annette Winkler said on Saturday. "When we started, many people doubted that Smart could be a success here, because normally, luxury, premium cars in China is about big cars," Winkler told reporters in Shanghai,...

  • *Hong Kong stock market debut set for Dec 19. HONG KONG, Dec 12- Chinese automaker BAIC Motor Corp Ltd, part-owned by Germany's Daimler AG, is set to raise about $1.42 billion in an initial public offering in Hong Kong, people with knowledge of the deal said on Friday. The price would be just above the mid-point of a HK $7.60 to HK $9.80 marketing range, putting the total...

  • UPDATE 1-BMW outsells Audi and Mercedes but lead narrows Wednesday, 10 Dec 2014 | 4:46 AM ET

    BERLIN, Dec 10- Carmaker BMW has racked up its highest-ever November sales, beating Audi and Mercedes-Benz, but the two German rivals remain on course to narrow BMW's lead in the global luxury car market. By comparison, Volkswagen's flagship Audi division sold 146,250 models, reporting an 11 percent gain on year-ago levels, while Daimler AG's Mercedes-Benz...

  • Dec 9- The United Auto Workers union said on Tuesday it will train workers at Volkswagen AG's plant in Chattanooga, Tennessee, in an effort to form a U.S. version of a German-style works council, while continuing to push for collective bargaining rights at the factory. Under a new agreement with the German company announced in November, unions that can prove...

  • DETROIT, Dec 1- The United Auto Workers union said on Monday it will press managers of the Daimler AG's Mercedes-Benz assembly plant in Alabama to respect the right of workers to discuss organizing a local union while on the factory floor. "It's unfortunate that Mercedes-Benz had to be ordered to simply allow workers to discuss their right to organize," said Kirk...

  • DETROIT, Dec 1- The United Auto Workers union said on Monday it will press managers of the Daimler AG's Mercedes-Benz assembly plant in Alabama to respect the right of workers to discuss organizing a local union while on the factory floor. "It's unfortunate that Mercedes-Benz had to be ordered to simply allow workers to discuss their right to organize," said Kirk...

  • MOSCOW, Nov 28- Sanctioned Russian companies hoping to tap Asian bond markets for financing are struggling to find lawyers, underwriters or even bourses to help with potential deals, banking sources said on Friday. Some of Russia's largest firms and banks, including No. 2 bank VTB and leading oil producer Rosneft, have championed Russia's turn to the East after...

  • Cadillac boss envisions $250,000 flagship car - in 2029 Wednesday, 19 Nov 2014 | 6:25 PM ET

    LOS ANGELES, Nov 19- Cadillac's new boss believes General Motors' premium brand could eventually sell ultra-luxury cars that retail for a quarter-million dollars by 2029.. "It is too early today for a $250,000 Cadillac," said Johann de Nysschen, in an interview on Wednesday at the annual auto show here. Cadillac's current flagship car, the XTS sedan, tops out at...

  • GUANGZHOU, China, Nov 18- Daimler AG will give its new luxury baby, the Mercedes-Maybach limousine, a glitzy world debut at this week's Guangzhou autoshow, even as analysts warn the end is nigh for China's 10- year high-end car sales boom. Instead, to cut costs and cushion potential discounts as luxury demand cools, they're starting or expanding production in China.

  • Korea car market cracks under German luxury barrage Sunday, 16 Nov 2014 | 6:26 PM ET
    2015 Hyundai Genesis

    South Korea is on track to spend more on vehicle imports from Europe this year than it earns from exports the other way for the first time in 24 years.

  • UPDATE 2-Plug Power cuts FY forecast, shares plummet Wednesday, 12 Nov 2014 | 12:34 PM ET

    Nov 12- Fuel cell maker Plug Power Inc cut its full-year revenue forecast, citing program delays and weaker-than-expected sales for its ReliOn business, sending its shares down as much as 17 percent. Plug Power cut its 2014 revenue forecast to a range of $70 million to $75 million from its earlier view of $75 million. Plug Power's total cost of revenue more than...

  • Nov 12- Shares of Axalta Coating Systems Ltd, a car paint company sold by DuPont to Carlyle Group LP, rose as much as 7.4 percent in their trading debut, valuing the company at about $4.8 billion. DuPont sold Axalta to Carlyle for $4.9 billion in cash in February 2013, a move that activist investor Nelson Peltz criticized two months back. Peltz, who is pushing DuPont to...

  • Nov 12- Fuel cell maker Plug Power Inc posted a bigger-than-expected quarterly loss as it continues to struggle to cut costs, sending its shares down as much as 18 percent in premarket trading. Plug Power has been increasing investments and expanding its clientele in European auto-manufacturing markets to take advantage of the growing interest in clean...

  • Drivers in long-term relationships with their cars Wednesday, 5 Nov 2014 | 3:41 PM ET
    2014 Dodge Durango

    Experian Automotive found the average length of initial ownership was seven years and nine months.

  • The German auto maker's move demonstrates a desire to "embed us more deeply in China, to make cars best suited to China," Hubertus Troska, Daimler's China head, told Reuters. Its focus on Chinese tastes should help Mercedes-Benz catch up in the local luxury car segment with Volkswagen AG's Audi and BMW, he said. Researcher LMC Automotive projects Mercedes-Benz to...

  • The German auto maker's move demonstrates a desire to "embed us more deeply in China, to make cars best suited to China," Hubertus Troska, Daimler's China head, told Reuters. Its focus on Chinese tastes should help Mercedes-Benz catch up in the local luxury car segment with Volkswagen AG's Audi and BMW, he said. Researcher LMC Automotive projects Mercedes-Benz to...

  • DETROIT, Oct 27- Toyota Motor Corp's namesake brand and its Lexus luxury brand finished one-and-two for the second year in a row in Consumer Reports' annual quality survey of the U.S. new-vehicle market, the influential magazine said on Monday. The four lowest-scoring brands were all from Fiat Chrysler Automobiles' Chrysler Group, as were five of the bottom seven.

  • Lincoln, a storied Detroit brand which Ford has owned since 1922, has been in a swoon for the past two decades, leaving dealers and customers wondering if Ford management had left the brand for dead. Now, with the renewed backing of Executive Chairman Bill Ford and the company's board, Fields has committed the automaker to a multiyear, multibillion-dollar...

  • TOKYO, Oct 24- Toyota Motor Corp said on Friday it had sold some of its shares in Tesla Motors Inc but that it would continue to study possible cooperation with the U.S. electric car maker in the future. Toyota, the world's biggest automaker, invested $50 million in the Palo Alto-based startup in May 2010 ahead of Tesla's initial public offering in June that year.