Daimler says Mercedes profits to fall in 2004

Newswire

FRANKFURT, July 29 (Reuters) - German-American carmaker DaimlerChrysler AG has cut its profit guidance for luxury unit Mercedes Car Group, forecasting a decline rather that stagnant results, the company said on Thursday. "Earnings for the full year are anticipated to be lower than in 2003 due to a changed model mix, exchange-rate effects and increased start-up costs for new products and expenses for the quality offensive," it said in a statement. In 2003, Mercedes Car Group posted an ...

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