Blog: Dave LeggettDC results as bad as expected

Dave Leggett | 24 July 2003

The much-trailed DC Q2 results are now out and they're - surprise, surprise - not good. DC's Chrysler unit is mainly responsible for the overall 91% drop in group earnings over the same quarter last year. Chrysler posted a whopping second-quarter operating loss of €948 million (Q2 2002: operating profit of €414 million) due to 'lower shipments and increased incentives, including higher provisions for marketing costs related to dealer inventories and for guaranteed residual values'. Will it get better? Is further restructuring required to get the Chrysler cost base down? Could a spin-off of Chrysler really be seriously contemplated? Questions, questions. The rumour mill is already busy...


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