Reviews Daimler shareholders are today about cleavage of truck division

08:25  01 october  2021
08:25  01 october  2021 Source:   dw.com

Daimler quarter numbers: As high, sales and profit from Daimler could fail in Q3

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(Bloomberg) - the shareholders of Daimler AG will vote on the spin-off of the truck division from Mercedes-Benz's luxury car business today. This represents a turning point for the Stuttgart manufacturer: The two business units were led more than a century under one roof.

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The step will help two divisions to react faster to industry-specific trends such as battery operation and autonomous driving. Investors wanted more transparency and strengthening the notoriously weak return on the truck division, Deka Fund Manager Ingo stores in front of the Extraordinary Daimler Annual General Meeting.

Daimler wants to align passenger car business on electromobility

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For a premium brand, margins are significantly too low, the cost-cutting programs would not have worked in the truck division and only helped the car division, stated by e-mail. An improvement in the results will be crucial because the cleavage of Daimler is susceptible to attacks of activists or takeover attempts.

The spin-off of the truck division is the most important strategic step since the sale of Chrysler 2007. It is a key element of the push of CEO Ola Källenius to make the group of more agile. The profits and the share price of Daimler began to weaken in the 13-year-old tenure of his predecessor Dieter Zetsche, which forced Källenius to make profound changes to prepare for a fundamental change in the industry.

While Mercedes relies aggressively on electric vehicles, technologies such as fuel cells and autonomous drive will probably play a greater role in the truck and logistics sector. Källenius has stated that both divisions for cooperation projects are open to selected areas.

Mercedes sees sales stabilization at the end of the year: Interview

 Mercedes sees sales stabilization at the end of the year: Interview (Bloomberg) - Mercedes-Benz expects a stabilization of the paragraph in the fourth quarter and continues to strive for margins in the double-digit area despite the burdens by global bottlenecks for semiconductors in the full year. That said Daimler's financial board Harald Wilhelm in the interview with Bloomberg. The demand for vehicles of Mercedes in China, Europe and North America remain very strong, so the manager.

Mercedes wants to retain a share of 35% of the truck division and hopes that the company qualifies for the DAX. Truck management will inform the investors about the future strategy next month.

Daimler benefits from bold decision © Bloomberg Daimler Benefits from Bold Decision

Headline in the original:

Daimler Investors to Vote On Splitting Mercedes from Trucks

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