Report: Daimler to help its dealerships
BERLIN, — Daimler AG, the maker of Mercedes Benz cars, has paid its dealerships euro53 million ($66.3 million) for losses and offered up another euro10 million ($12.5 million) so the dealerships can buy showroom models, Der Spiegel said in an advance report of Monday's edition.
The report said many of the Stuttgart-based company's independent dealers are suffering because they also sell Daimler's truck models, and that the truck business has come "almost to a standstill."
Daimler's additional company-owned dealerships, which are expecting a loss of euro200 million ($250 million) this year, are also seeking financial help from the company, according to the report released on Saturday.
Daimler could not immediately be reached for comment.
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November 22, 2008 07:49 AM EST |