Smart cost Daimler to lose 3.9 billion over 4 years

Apparently the Smart car wasn’t so smart for DaimlerChrysler. According to German newspaper Handelsblatt, the Smart brand lost nearly 3.9 billion euros ($5.21 billion) between 2003 and 2006. The loss had an affect on Mercedes Group, which would have recorded a profit of more than 4 billion euros ($5.34) last year. Instead, the Mercedes group posted 2.4 billion ($3.20 billion) euros in operating profits.

Since DaimlerChrysler has not provided profit or loss information within the Mercedes Group, the German newspaper cited documents it obtained from the liquidated Smart GmbH in Böblingen, Germany, as the source.

While a DaimlerChrysler spokesman did not comment on the report, he did say that the Smart brand will profitable for the first time this year.


Source: Automotive News (Subscription Required)

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