There was further speculation in the German press at the weekend that DaimlerChrysler may be looking to sell off its ailing US arm, Chrysler.
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Spiegel magazine quotes an unnamed board member saying that it would be frivolous for the board not to prepare an exit strategy.
Speculation that DaimlerChrysler was preparing for a sale arose last Wednesday when Chrysler announced a third quarter operating loss of $US1.48bn. Heavy losses were expected in the third quarter because of restructuring costs, but a conference call for analysts and journalists led to a flurry of media reports suggesting DaimlerChrysler was likely to sell Chrysler.
DaimlerChrysler finance director, Bodo Uebber, said that the company was reviewing the situation at Chrysler internally, and would report back next year.
A statement from Hartmut Schick, DaimlerChrysler’s vice president of corporate communications, affirming that there are no plans to sell Chrysler does not appear to have assuaged speculation.
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By GlobalDataThe Spiegel speculated that Chrysler might be split off and quoted on the stock exchange. This would make it possible for another vehicle manufacturer to take a share in Chrysler and assemble its own models in un-utilised capacity within its US plants. The Spiegel names Volkswagen Group as a possible partner.
