Sunrise or Sunset?
In Stuttgart this morning a financially challenged Daimler said it intends to spin-off Daimler Truck into a separate company with its own stock market listing. In a move that will be debated until Daimler’s extra-ordinary shareholder meeting during Q3 2021, Daimler claims that a “significant majority stake” in the Daimler Truck shares trading on the Frankfurt stock exchange will be distributed to current Daimler shareholders.
Actually, current Daimler shareholders will be Mercedes-Benz holders since the Daimler name will be recast as Mercedes-Benz at “the appropriate time.” Both companies, whatever they are called, are in mobility industries that are facing disruptive technological and structural changes that threaten survival. (read AutoInformed.com on Daimler Confirms 2020 Group Sales and Revenue Will Decline) Continue reading
Mazda Increases Forecast for Fiscal Year Ending March 31
In a victory of sorts over COVID19, Mazda Motor Corporation today revised upwards its consolidated financial forecast for the Fiscal Year Ending 31 March 2021 (April 1, 2020 through March 31, 2021) that was released on November 9, 2020.
“Based on the situation of a steady progress of improvement in marketing expense and carline mix as well as fixed cost reduction, we revised the full-year forecast for the Fiscal Year ending March 31, 2021,” Mazda said. Nevertheless Mazda is still losing money and is in a perilous, company-threatening position with huge soaring debt and ongoing breathtaking operating losses. (See chart on second page.) Continue reading →