And German industry in general. They couldn’t laugh off Tesla. Now the punches are coming in hot and heavy.
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German Industrial Job Losses Top 80,000 With Daimler Cuts – Germany’s economy may have narrowly avoided a recession, but the pressure on the country’s industry shows no sign of abating.
Daimler AG said this week it will shed 10% of management positions at its Mercedes unit, lifting the tally of job cuts announced this year across Germany’s manufacturing sector to more than 80,000, according to Bloomberg calculations.
Companies from Volkswagen AG to Siemens AG are letting workers go as Germany’s powerful automotive industry struggles with a shift toward electrification and self-driving cars, and makers of machinery and robots are hit by slower exports and trade disputes. Makers of well-known German products such as Meissen porcelain and WMF kitchenware are also trimming their workforce.
German Carmakers Jump on Potential U.S.-China Tariff Truce. This is how Germany works, folks.
BMW AG rallied the most in more than three years after U.S. President Donald Trump said China had agreed to remove painful tariffs on imported American-made cars shipped to the world’s biggest automotive market. Daimler AG and Volkswagen AG also rose sharply.
BMW and Daimler, which export sport utility vehicles from U.S. plants to China, stand to be the biggest gainers from a potential reduction of tariffs. Six of the ten best-selling U.S. auto imports to China are made by the two German luxury auto manufacturers.
Autobosse treffen Trump Kurse von BMW, VW und Daimler schnellen in die Höhe.
What? That was it? No more trade war hysteria? Just when it was starting to get interesting? What Luschen (duds).
The Wall Street Journal reported that Richard Grenell, the U.S. ambassador to Germany, has been in talks recently with the chief executives of German car makers BMW, Volkswagen and Daimler, where they pitched the idea of ending car tariffs between the U.S. and the EU.
During these talks, the executives said they would be in favor of scrapping these levies as part of a broader deal encompassing industrial goods, the Journal said.
“Germany has the right approach to resolving this trade disagreement among friends.”
After Germany introduced a ban on German vehicles in the city of Hamburg today, President Donald Trump has announced plans to do the same in US-Amerika, as well. Sort of.
A report that U.S. President Donald Trump has threatened to pursue German carmakers until there are no Mercedes-Benz rolling down New York’s Fifth Avenue dented shares in the luxury car manufacturers on Thursday.
An excerpt from German magazine Wirtschaftswoche’s article, which cited several unnamed European and U.S. diplomats but did not include any direct quotes, could not be independently verified, while a United States Embassy spokesman in Berlin referred questions to Washington.
The news and current affairs magazine said Trump had told French President Emmanuel Macron in April that he aimed to push German carmakers out of the United States altogether. Macron’s administration in Paris declined to comment on the report.
Eine harte Antwort wäre für die deutsche Wirtschaft riskant: US-Präsident Trump hat neben den Metall-Zöllen auch Zölle auf ausländische Autos ins Spiel gebracht.
As far as I can tell, there isn’t a German automobile company that isn’t involved in emissions manipulation. Or maybe this is just another misunderstanding/accident kind of thing again.
Remember when Germany used to have a clean image? Me, neither. It has been a while now, hasn’t it?
Daimler faces a recall order for more than 600,000 diesel-engine vehicles including C-Class and G-Class models because of suspected emissions manipulation, German magazine Der Spiegel reported on Friday.
Auch Daimler soll bei Diesel-Pkw bei den Abgaswerten getrickst haben. Das Kraftfahrt-Bundesamt könnte einen Rückruf von über einer halben Millionen Autos anordnen.
That means the Corruption Perception Index 2017 from Transparency International.
Go Germany! The Germans have dropped a few notches. Like duh. And they don’t even factor in the German automobile industry here, people.
Laut Transparency International haben Luxemburg und Großbritannien Deutschland beim Kampf gegen Korruption überholt. Nötig sei unter anderem ein Lobbyregister.
Alarm Bells Ringing As German Court Prepares Diesel Verdict That Could Torpedo The Industry.
This is widespread criminal activity here, people. VW may have gotten Dieselgate rolling, then Audi & Co. gets caught but now its Daimler’s turn.
Daimler AG, the automaker which produces the Mercedes-Benz line of luxury vehicles, is facing growing scrutiny after US investigators reportedly found that it installed software to cheat diesel emissions tests on cars, Bloomberg and Reuters reported.
I got three words to say here: Made in Germany. Here are three more: Betrug mit System (systematic fraud). Get this diesel Dreck (filth) out of here already.
Meanwhile… Tesla vehicles now dominates luxury segment in Europe, outselling flagship gas-powered German cars
Tesla Model S übertrumpft in Europa erstmals deutsche Premium-Konkurrenz.
The advertising marriage of VW and “Die Mannschaft”, as Germans call their team, starts on January 1, 2019 and runs until July 31, 2024.
No financial details were released, but German media said Wolfsburg-based VW would pay the German Football Association DFB 25 million to 30 million euros ($28-34 million) a year, far more than Daimler has paid.
A German media research consortium reported Wednesday that German automaker Daimler, the maker of Mercedes-Benz cars, had for almost 10 years cheated emissions tests on two of its lines of engines. The allegations prompted a series of raids carried by German authorities on a number of Daimler locations back in May.
And all of this was financed by the Deutsche Bank, right?
“Wir kooperieren vollumfänglich mit den Behörden. Spekulationen kommentieren wir nicht.”
That’s what the Mercedes-Benz star used to have. Well sure, it still does, I suppose. Although with a net loss of 1.93 billion dollars last quarter, it’s suddenly not shining like it used to. That’s 65% less profit for 2008 as a whole and, needless to say, worse than anyone here had forecast.
Consumers all around the world, and not just those normally so reliably wasteful American type ones, just aren’t buying these bug luxurious German cars anymore. But take heart a little. You can still blame Chrysler on this one if you want to, Daimler. This one last time, I mean. Onkel Dr. Zetsche will be pulling out his cost-cutting axe now all the same anyway, though.
„Der Ergebnisrückgang sei vor allem auf Belastungen von 3,228 Milliarden Euro aus der Beteiligung an Chrysler sowie durch das niedrigere Ergebnis von Mercedes-Benz Cars bedingt.“
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Observing Hermann 