Chrysler cost Daimler $1.75 billion in 2008

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February 17, 2009 by German Car Magazine
Filed under News

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daimler press conference main 630 0217 350x200 Chrysler cost Daimler $1.75 billion in 2008

The divorce of Daimler from Chrysler in 2007 wasn’t complete - the German company Daimler still holds 19.9% of Chrysler - and now that lingering relationship has come back with a vengeance. Despite a year that would be only moderately unsuccessful for Daimler, Chrysler’s involvement more than doubled 2008 losses to $2.45 billion.

Daimler posted a Q4 loss before interest and taxes (EBIT) of about $700 million on its own, however, so not all the blame lies at Chrysler’s feet. Daimler CEO Dieter Zetsche says the company is still in a good position, despite a lost forecast for 2009 as well.

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