DaimlerChrysler’s Truck Sales Improve; May Sell Chrysler Unit
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DaimlerChrysler AG said Wednesday it earned $4.3 billion or $4.17 per share last year, up from $3.8 billion or $3.70 a share in 2005, and the company said its truck unit's sales improved.
Separately, the company said it may sell or seek partners for its unprofitable Chrysler division in the United States.The truck division, which includes U.S. market leader Freightliner LLC, reported an operating profit of $2.66 billion last year, up from $2.12 billion in 2005.
The truck group’s revenue rose 5% to $42 billion last year, while it sold 137,100 units worldwide in the fourth quarter, up from 127,000 in the previous fourth quarter. For all of 2006, the truck group sold 537,000 units, up from 529,000 in 2005.Daimler said its Chrysler Group will cut 13,000 jobs, or about 16% of its work force, over the next three years. The cuts will include 11,000 hourly wager earners — 9,000 in the U.S. and 2,000 in Canada. This year, the cuts will include 4,700 U.S. jobs and 1,100 in Canada.Freightliner said in late January that it would lay off 2,000 workers at U.S. facilities, and that the total job cuts in the U.S. in Canada could total 4,000, due to a foreseen decline in heavy-duty truck demand this year.(Click here for previous coverage.)
DaimlerChrysler AG said Wednesday it earned $4.3 billion or $4.17 per share last year, up from $3.8 billion or $3.70 a share in 2005, and the company said its truck unit's sales improved.
Separately, the company said it may sell or seek partners for its unprofitable Chrysler division in the United States.The truck division, which includes U.S. market leader Freightliner LLC, reported an operating profit of $2.66 billion last year, up from $2.12 billion in 2005.The truck group’s revenue rose 5% to $42 billion last year, while it sold 137,100 units worldwide in the fourth quarter, up from 127,000 in the previous fourth quarter. For all of 2006, the truck group sold 537,000 units, up from 529,000 in 2005.Daimler said its Chrysler Group will cut 13,000 jobs, or about 16% of its work force, over the next three years. The cuts will include 11,000 hourly wager earners — 9,000 in the U.S. and 2,000 in Canada. This year, the cuts will include 4,700 U.S. jobs and 1,100 in Canada.Freightliner said in late January that it would lay off 2,000 workers at U.S. facilities, and that the total job cuts in the U.S. in Canada could total 4,000, due to a foreseen decline in heavy-duty truck demand this year.(Click here for previous coverage.)
