#Daimler
Mercedes C-Class Production Shifted To Alabama
After writing about Spyker transferring production from the Netherlands to the United Kingdom, I thought I’d seen it all. Well, now I have. Production going OUT of Germany and into the United States. After much debating, Daimler have finally decided to switch some production from Germany to the United States. According to Reuters, roughly a fifth of Mercedes-Benz C-Class models will be built in Alabama by 2014, in hopes of protecting against currency fluctuations and maintaining profit margin. Naturally, the unions weren’t happy, in fact they downed tools in protest, claiming it was a “blatantly wrong decision.” Dr Z saw it differently, especially considering the move is said to be worth $100m in incentives from the state of Alabama.
Daimler And Renault Get Smart
Daimler Sells One F1 Team, Then Buys Another
Yesterday Daimler announced that McLaren would be buying out Daimler’s interest in their joint venture Formula 1 team. Many, including board member Erich Klemm, thought this made all kinds of sense. “In the (car) factories, every cent is being turned over three times. The employees are feeling the financial crisis with shorter working hours and loss of income,” he continued. “In these economically difficult times, the company should invest in better marketing of its real cars.” My, what a novel idea!
Maybach: No Substitute For A Rolls Royce
To paraphrase Kurt Vonnegut, the Maybach experiment was a conspiracy between Daimler and the rich to make the rest of us feel smart. The ultimate zombie brand, exhumed during the go-go nineties as a way for Daimler to charge even more for a stretched S Class, has now fallen on troubled times. And now, according to the ever-trusty limobroker.co.uk, none other than Mariah Carey has put the Maybach seemingly irrevocably in its place:
Initially a top class Mercedes complete with a chauffeur was sent to take Mariah to the studios, but this wasn’t deemed exclusive enough for a star of Mariah’s stature and was then replaced by a £250,000 Mercedes Maybach. However the Maybach limo was also rejected and then, third-time-lucky, a Rolls Royce Phantom was dispatched.
Abu Dhabi Wants A Second Date With Daimler
Reuters reports that Aabar Investments is considering increasing their stake in Daimler AG from 9.1% to 15%. Aabar is already Daimler largest shareholder and this move, should it happen, will further cement this position. The Abu Dhabi investment fund paid $2.7 billion for the 9.1% stake when the share price €20.77. Since then, the share price of Daimler has rocketed 77% and on the news of Aabar mulling a bigger stake, the share price rose by 4.4% to €35.81 per share. Daniel Schwarz, an analyst with Commerzbank AG said “It’s a positive signal that a large shareholder is showing a long term commitment”. But the strength of the fund’s love for Daimler doesn’t just extend to this increased stake.
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