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Daimler may cut 2013 outlook on weak European demand

German premium carmaker Daimler said it might cut its 2013 profit expectations this month, sparking sharp criticism from shareholders gathering for Wednesday's annual meeting, as Europe's car market shrank at an alarming rate.Daimler has fallen far behind German rivals BMW and Audi due to deep-seated problems in China, and the latest profit warning is another dent in the credibility of Chief Executive Dieter Zetsche, whose contract extension in February nearly ended in a boardroom coup."Not much tailwind is anticipated from the markets in the coming months. For Europe in particular, there are no signs of a trend reversal," Zetsche said, adding Daimler would reassess whether its previous assumptions for 2013 were still valid when it reports first-quarter results on April 24.Credit Suisse said it had not in any case trusted the CEO's previous guidance of flat adjusted operating profit of roughly 8.1 billion euros, and said even its conservative estimate of an unadjusted 7.9 billion might...

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  1. Daimler to Revise 2013 Forecasts on Tough Markets

    BERLIN, April 10 (Reuters) - German premium carmaker Daimler is likely to cut its profit expectations for the year, after it said on Wednesday that its core European...

  2. Fiat to Strengthen Capital Structure after Chrysler Merger

    Fiat SpA (F.MI) has enough funds to buy the rest of Chrysler Group LLC without outside help, but the eventual merger will require it to strengthen capital in the med...

  3. Estimate Car Insurance Before Purchasing a Car

    It doesn't matter whether you're buying a new car or used car; it's easy to get caught off guard about the costs to keep that car on the road, especially when it com...

  4. Redefining the 'Green' Car with Hyper-Hybrid LaFerrari

    Billionaire industrialist Ratan Tata pored over every inch of the new million-euro ($1.3 million) LaFerrari on the Italian supercar maker's stand at the Geneva auto ...

  5. Fiat Focused on Buying Out Chrysler Minority Shareholders

    Fiat (F.MI, FIATY) stole the spotlight at the Geneva motor show Tuesday as it took the wraps off new, racy but low-volume Ferrari and Alfa Romeo sports cars, new fla...

  6. Ferrari to sell new supercar for 1 million euros: chairman

    Ferrari is going to sell its new LaFerrari supercar model for 1 million euros ($1.30 million), Chairman Luca Cordero di Montezemolo said on Tuesday."The 499 LaFerrar...

  7. Analysis: Alfa Romeo reboot marks tough road for Fiat recovery

    Sergio Marchionne does not walk on water.Nevertheless, it may require a miracle to pull off the Fiat chief's latest gambit: Take his sporty Alfa Romeo brand global w...

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