This Market Business News information article provides detailed information on the German automotive company Daimler AG.
Daimler AG focuses on producing automobiles, buses, and commercial vehicles.
In 1924 an Agreement of Mutual Interest was formed between the companies of two pioneers of automobile manufacturing: Gottlieb Daimler’s “Daimler Motoren Gesellschaft” and Carl Benz’s “Benz & Cie”.
The two companies produced automobiles and combustion engines separately until they formally merged in 1926 – giving rise to Daimler-Benz AG.
From that point, all cars produced by the company used the Mercedes-Benz brand name.
In 1954 the company reached the billion mark in terms of turnover and achieved record sales figures. In fact this success (which occurred shortly after WWII) led to the Mercedes-Benz brand becoming the symbol of the German economic miracle.
Daimler-Benz quickly began increasing its global presence, by establishing production plants in Iran, South Africa, Turkey, Argentina, Brazil, and India.
During the 60’s and 70’s Daimler-Benz experienced steady upward growth, which was not affected by the oil crisis of 1973.
In 1998 Daimler-Benz merged with the Chrysler Corporation to form DaimlerChrysler AG. This relationship lasted until 2007 (when the Chrysler group was sold off to Cerberus Capital Management) and the name of the parent company was changed to “Daimler AG”.
Overview
- CEO: Dieter Zetsche
- Company head office: Stuttgart, Germany
- Employees: 275,087 (2012)
- Company subsidiaries: EvoBus GmbH, Daimler Trucks North, Mercedes-Benz Mexico, Mitsubishi Fuso, Daimler India Commercial Vehicles Pvt. ltd., Mercedes-Benz India, Master Motors, Manufacturing Commercial Vehicles, Daimler Financial Services
Financial results (full year 2013):
Key Figures
- Unit Sales: 2,353,623 units (+7%)
- Revenue: 117.982 billion EUR (+3% change)
- Net profit (loss): 8.720 billion EUR (+28% change)
- R&D expenditure total: 5.385 billion EUR (-5% change)
Unit sales breakdown:
- Mercedes-Benz Cars: 1,565,563 units (+8% change)
- Daimler Trucks: 484,211 units (+5% change)
- Mercedes-Benz Vans: 270,144 units (+7% change)
- Daimler Buses: 33,705 units (+5% change)
- Daimler Group Total: 2,353,623 units (+7% change)
Revenue breakdown:
- Mercedes-Benz Cars: 64.307 billion EUR (+4% change)
- Daimler Trucks: 31.473 billion EUR (+0% change)
- Mercedes-Benz Vans: 9.369 billion EUR (+3% change)
- Daimler Buses: 4.105 billion EUR (+4% change)
- Daimler Financial Services: 14.522 billion EUR (+7% change)
- Reconciliation: -5.794 billion EUR
- Daimler Group Total Revenue: 117.982 billion EUR (+3% change)
Credit rating, long-term (2012):
- Standard & Poor’s: A-
- Moody’s: A3
- Fitch: A-
Read the Fact Sheet for Q4 and Full Year 2013.
News about Daimler AG reported by Market Business News:
July 5, 2014: Mercedes-Benz reported record sales for the first half of 2014, with over 783,520 deliveries, a 12.8% increase. In the month of June, the company sold 142,136 new passenger cars worldwide, an 8% rise. All models except for the SmartCar saw strong sales growth.