Blog: Dave LeggettDCX: who has the roadmap?

Dave Leggett | 17 February 2006

I think many people found it more difficult than usual to get to the bottom of yesterday’s DaimlerChrysler results and prospects for the company. Zetsche made it difficult for the analysts because the restructuring the company is undertaking makes it hard to compare oranges with oranges (is Smart – buried in there somewhere - the bad apple?).

And when pressed yesterday by analysts on how he was going to get the Mercedes Car division to increased volume and increased margin he stamped his feet and said that ‘we will do whatever it takes’. That’s quite a statement of intent when you consider where the Mercedes Car division is now.

But you would really hope that the ship’s captain would know something about the journey as well as the destination wouldn’t you? I guess he does, but it is perhaps cause for concern that under analysts’ questioning he decided he had enough and left some of the trickier questions unanswered.

One thing is becoming clear in Europe though. The vehicle market may be tight, but that hasn’t stopped a number of firms betting that they will get a much bigger slice of the pie (more volume, higher margins). Someone is going to be disappointed and the shareholders will be noting down the many hostages to fortune that are circulating currently.

GOLDING’S TAKE: DCX big on promises, short on detail


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