An earnings boost from the launch of the redesigned Mercedes-Benz E-class line has made Daimler more optimistic the worst of the current decline is finally behind it, chief executive Dieter Zetsche told German newspaper Welt am Sonntag.
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“From today’s perspective, not only will we not experience any more negative surprises in terms of the whole year, rather we could even have the chance to develop positively,” he said.
Although the bottom had likely been reached, the Daimler CEO warned demand would stabilise at a low level this year with a very gradual recovery beginning in 2010 for certain markets and segments, Reuters reported, citing the paper.
His comments reflect those made recently by several senior executives at global automakers though few have put their thoughts on the record.
“One should not expect that in one year markets will be at the level of 2007,” Zetsche said in an interview with the newspaper.
He said he still considered it likely that talks to deepen ties with arch-rival BMW would eventually lead to results the two could present to markets.
“That requires finished agreements and we are not there yet,” Zetsche said.
Unlike Porsche, in which Daimler was reportedly interested in buying a stake, Daimler is not looking for government handouts. “We do not plan to apply for state aid,” he said.
Zetsche denied reports in Germany’s Manager magazine and several newspapers that he was eyeing a stake in Porsche, reaffirming his statement from two years ago that there was no acquisition target he could see that would strengthen Daimler.
He also said that, while consolidation among parts suppliers would intensify, carmakers would see only a few defensive deals occur where ailing competitors look to save themselves by linking up with a stronger rival.
Contrary to what Fiat CEO Sergio Marchionne has predicted, the number of carmakers would not decline because new players are emerging in China and India, Zetsche told Welt am Sonntag.
“This industry is too closely intertwined with national interests, which is the reason why it seldom follows the pure laws of the market.”
