DaimlerChrysler does not publish separate results for its Smart division, but according to a report out today (12 June), it has cost DaimlerChrysler EUR3.9bn in losses between 2003 and 2006, much more than analysts had estimated.
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According to Handelsblatt, Mercedes Car Group would have registered a record operating profit last year of EUR 4bn instead of ER2.4bn, had it not been for losses at Smart.
The only figure available for the brand is that in 2005 Mercedes allowed EUR1.5bn for Smart restructuring.
A Mercedes spokesman would not confirm the information when asked by financial website aktiencheck.de, but he did say Smart is on track to return to profit this year.
Restructuring efforts included ending ForFour production (and the associated Netherlands production joint venture with Mitsubishi Europe) and axing the Roadster and its Coupe derivative, though these two are scheduled for revival by a British company.
Smart currently has high hopes for the sales success of the fully redesigned Fortwo line launched recently.
