For the further optimization of Daimler’s capital structure, Daimler’s Board of Management has decided to carry out a new share buyback program. The Supervisory Board of Daimler AG has also approved this decision. In decision was made during their Annual Meeting of April 9, 2008, which allows for the buyback of 10% or approximately 96.4 million of the outstanding shares for a maximum amount of €6 billion. In order to optimize the buyback, shares may also be acquired with the use of derivatives.
Latest Mercedes-Benz News
Mercedes-Benz USA today reported its highest May on record with sales of 21,785 new vehicles, a 0.1 % increase over last May. Sales for the month brought MBUSA’s year-to-date volume to 99,703 new vehicles, a 1.1 % increase compared to the first five months of 2007. Passenger car sales of 16,416 vehicles showed an increase of 4.6 percent over last May. Sales of the legendary SL roadster, one of MBUSA’s first 2009 models to hit dealer showrooms, increased by 60.4 percent (1,083 vs. 675 units). The volume leading C-Class also demonstrated impressive growth with an increase of 43.9 percent for the month (7,394 vs 5,139 units). In the light truck… Continue Reading »
Mercedes-Benz is moving its Southern Californian advanced design studio from Irvine to a newly-acquired, spacious facility near Carlsbad, in order to strengthen its creative base in the U.S. At the new Carlsbad facility, the styling masterminds pondering the car of the future have almost three times more space in which to realize their creative ideas. Thus, Mercedes-Benz is underscoring the continually growing influence of the advanced design studio on the internationally-oriented design strategy of the world’s oldest vehicle manufacturer.
Mercedes-Benz currently has 17 production plants across the world and 18th one isn’t too far away. Eastern Europe looks is the next target for Mercedes-Benz as it is finalizes plans of setting up a plant in that region. Reports from Automotive News suggest that the western Romanian county of Timis is the shortlisted area where the plant will be constructed. It is also predicted that Mercedes will concentrate building and selling the low-end models, A and B-Class cars initially as they make more sense than luxury sedans and SUV’s in a developing region. The final call according to a county authority, will be made within three weeks. Speculations made by… Continue Reading »
The smart fortwo continues its string of successes. Since the end of March 2007, the new model of the innovative two-seater has been purchased by a total of 100,000 customers, representing a sales increase of more than 80 percent. Yesterday afternoon, Ulrich Kowalewski, director of the Mercedes-Benz Center Munich handed over the 100,000th second-generation smart fortwo to a 36-year-old customer in the recently re-opened smart Center Munich. Here in the US, the smart fortwo is slowly penetrating the market in the major US cities. In some places, the fortwo is sold-out until the beginning of next year, which just shows the popularity of the small flitzer among people who want… Continue Reading »
With the establishment of its own bank, Daimler Financial Services, the financial services provider of Daimler AG, will be moving into the fast-growing vehicle and consumer credit markets in Russia. DaimlerChrysler Bank Rus, which will be renamed Mercedes-Benz Bank Rus upon approval by Russia’s central bank, will offer car loans for private and commercial customers in the country. The new bank will officially open in Moscow on November 7, 2007. Daimler Financial Services’ entry into the car loan business will round out the company’s product portfolio in Russia. “The establishment of the new bank will make us the first foreign automaker to have its own bank and its own leasing… Continue Reading »