Report says Daimler AG to help its dealerships

Published Saturday November 22nd, 2008

BERLIN - Der Spiegel reports Daimler AG, the maker of Mercedes Benz cars, has paid its dealerships $66.3 million for losses and offered up another $12.5 million so the dealerships can buy showroom models.

The news comes from an advance report of Monday's edition of the weekly magazine.

The report says many of the Stuttgart, Germany-based company's independent dealers are suffering because they also sell Daimler's truck models, and that the truck business has come "almost to a standstill."

The report says Daimler's additional company-owned dealerships are also seeking financial help from the company.

Daimler could not immediately be reached for comment.

 

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