Someone say Chrysler?
Posted on 07/12/2004 6:41:30 PM PDT by Brilliant
STUTTGART, Germany (Reuters) - German-American auto maker DaimlerChrysler may cut 6,000 jobs and shift some production of the new C-class models outside of Germany if its works council opposes deeper cost cuts, it said on Monday.
Until now, employee representatives have agreed to just 180 million euros ($223 million) in annual personnel cost cuts despite demands from management to save 500 million euros, the firm said.
Guenter Fleig, Daimler's management board member responsible for personnel, said the possible job cuts would be at the company's Sindelfingen plant near Stuttgart.
The company wants to move production of the C-class, due in 2007, to its more efficient Bremen plant in northern Germany and to its East London factory in South Africa and wants to drop plans to build derivative models.
On Saturday, the company suffered a production loss of more than 1,000 vehicles, according to the works council, after some 12,000 workers in Sindelfingen failed to show up for their shift to protest the cost-cutting plans.
The works council plans further demonstrations on Thursday in all of Daimler's German factories. Shares in DaimlerChrysler underperformed their peers, falling 1.3 percent to 36.08 euros per share by 1413 GMT (10:13 a.m. EDT), compared with a 0.8-percent drop in the Dow Jones STOXX European autos index.
I'm thinking of sinking a little dough in Toyota stock. What do you think?
Seems kinda risky given the gas price fluctuations and unsettled dollar. On the other hand, Japanese cars sometimes do better with high gas prices, and I believe Toyota has a plant in the US.
Second largest Automaker in the World Toyota that is,
You can't go wrong,
Freegards
Toyota has several plants' here in the USA, the Corrolla and Tacoma plant is in Fremont Ca, the Camry's are built in Georgetown Ky, and they're opening a Truck assembly plant in San Antonio Tx,
many C class cars for the US are already made in Brazil.
"C class MBs made in Brazil?"
Are those anything like the VW Jettas that were made in Mexico? The quality was nowhere near as good as the ones made in Germany.
Thanks for the info/advise.
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