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Daimler wants to save 4 billion euros in the auto division

Daimler wants to save in the auto sector
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W As reported in the Stuttgarter Nachrichten, Daimler CEO Dieter Zetsche announced the new austerity program on Monday (September 11th, 2017) in Sindelfingen at an investor event. Savings are to be made, among other things, through a faster market launch of new products and lower material and production costs.

Electric cars depress returns

Daimler needs the financial resources from traditional business to cover expenses to be able to handle future issues. With the expansion of its electric car sales, Daimler expects lower returns in the passenger car business than currently. The transition to electric mobility goes hand in hand with high investments and lower margins than with the current model range, explained CEO Zetsche. The group wants to keep the current operating return in the car business of ten percent 'as good as possible' during the transition to electric cars. But there is a risk of a decline to around eight percent. To counter this, a savings program of four billion euros is planned by 2025.

Daimler to bring more than ten purely electric cars onto the market by 2022 in order to achieve a sales share of 25 percent by 2025. By 2022, all Mercedes models, more than 50 in total, should be offered with electrified drives of all variants.

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