DaimlerChrysler’s Smart minicar business remains on track to break even in 2007, it reiterated on Tuesday after a magazine report that it could emerge from losses as early as next year.
Go deeper with GlobalData
“We are expecting to reach break even in 2007,” a Smart spokesman told Reuters, repeating that the brand was working to cut expenses further after reducing fixed costs at its headquarters by 26% so far.
Focus Money had reported Smart might break even in 2006 after cutting costs this year by around 30%. It lost around €600 million ($US717.2 million) in 2004 but has slashed its workforce and pared down its product lineup.
“We have reduced our losses dramatically and are feeling our way towards zero from below,” it quoted Smart brand head Ulrich Walker as saying without giving a time frame to break even.
“I don’t have any hints that we will reach it earlier than expected. I only know 2007,” the spokesman told Reuters when asked about the report, adding Smart was on the right track to meet its target.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
