A Wrong Turn at Chrysler
For the past three years, when parent DaimlerChrysler (DCX) has reported earnings, it has been the Mercedes-Benz unit that has dragged down the company's results. Chrysler Group has been the bright spot, cranking out profits on successful models like the Chrysler 300 and Town & Country minivan. But the second-quarter numbers, reported on July 27, painted a markedly different picture: Mercedes posted earnings of $1 billion, while Chrysler rang up just $65 million in profits, vs. $695 million a year earlier. Overall, DaimlerChrysler earned $2.37 billion for the quarter ended June 30, compared with $942 million in the year-ago period.
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