Sign in to follow this  
NINETY EIGHT REGENCY

Daimler wants to lead small premium segment

1 post in this topic

Daimler wants to lead small premium segment

Luxury automaker approached by GM about a tie-up for small cars, Zetsche says

June 14, 2010 08:46 CET

FRANKFURT (Reuters) -- Daimler AG wants to gain market leadership among premium vehicles in the small car segment as a way to overtake rivals BMW AG and Audi.

"We are market leaders with our S-, E- and C-class limousines. So it is obvious which market position we are due in the small premium car segment," Zetsche told the Financial Times in an interview published on Monday.

"When it comes to revenues and profits, we are clearly leading BMW and Audi. This is the position that we want to maintain and expand," he said.

Zetsche said Daimler was approached by General Motors Co. and was in talks with Volkswagen AG as well as Fiat S.p.A. about possible alliances before it decided to conclude a tie-up with Renault last month.

Zetsche said Daimler had spoken to Fiat, VW and BMW, and had also been approached by Japanese rivals and GM, among others.

"There has hardly been any carmaker that has not approached us. But we have come to the clear judgment that this [Renault] is definitely the best option," the Daimler CEO said.

Renault, its partner Nissan Motor Co. and Daimler announced in April a broad strategic cooperation in the field of engine and vehicle development.

Daimler wants to reach an operating profit margin of 10 percent by the second half of 2012, the Financial Times reported.

Read more: http://www.autonews.com/article/20100614/ANE/306149918/1193#ixzz0qq6VHBdn

Share this post


Link to post
Share on other sites

Your content will need to be approved by a moderator

Guest
You are commenting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoticons maximum are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this