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Filed under: Daimler , Mercedes-Benz The global auto industry is enduring its worst crisis in decades, and iconic companies with 100-year histories are being pushed to the brink. Luxury automaker Daimler is no different, with Mercedes-Benz sales down 17% in the past quarter and posting a loss of $1.95 billion in the fourth quarter alone. To help alleviate the a major cash crunch, Daimler has sold off 9.1% of the company to Abu Dhabi firm Aabar Investments PJSC. Aabar purchased 96.4 million shares at a 5% discount under the stock price of 21.34 euros. Daimler shares were selling for 45 euros a piece before the rug was pulled out from under global luxury car sales. Both companies consider the partnership to be a long-term investment, as Daimler will need all the help it can get weathering brutal automobile sales slump. The two companies will also collaborate on electric vehicle development and Daimler will build a training center in Abu Dhabi. Thanks for the tip, Abdul! [Source: Bloomberg...
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Filed under: Concept Cars , Euro , Hirings/Firings/Layoffs , BMW , Mercedes-Benz Both Mercedes-Benz and BMW have seen recent design-chief departures, and now there's been a defection. Karim Habib, who had a hand in the F01 7 Series while at BMW, has left the Roundel for the three-pointed star. Habib's move to Mercedes has him overseeing Mercedes' advanced design studio in Stuttgart, working with MBZ design chief Gorden Wagener. Tasked with the brand's F cars, Habib's work will be looking two generations ahead, to the cars after the next new ones. Let's hope that the F700 goes on the same kind of de-uglification program as the 750 went on before it becomes an S-Class. Thanks for the tip, Horatiu! [Source: Autocar via BMWBlog ] Top BMW designer Karim Habib defects to Mercedes-Benz originally appeared on Autoblog on Mon, 16 Mar 2009 10:28:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments
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Filed under: Aftermarket , Tuners , SUVs , Geneva Motor Show , Mercedes-Benz , Brabus Click above for high-res gallery of the Brabus G V12 S Biturbo Nothing says "happy birthday" like 700 horsepower and nearly 1000 lb-ft of torque. That's what Brabus figures, at least, and we're with them. To mark the 30th anniversary of the indomitable Mercedes-Benz Geländewagen, Brabus presented the G V12 S Biturbo here at the Geneva Motor Show , and it could hardly be missed in the middle of the Palexpo show floor. The tuned twin-turbo 6.3-liter V12 sits in a tricked out G-Wagen decked out in black with LED headlamps, custom bodywork, black leather everything, a 163-mph top end and a physics-defying 4.3-second spring to 60 mph. At nearly half a million on the sticker, you're not likely to see one parked at the local mini mall - unless you live in car-bonkers Abu Dhabi where a supposedly McLaren-powered G-Wagen was spotted last year - so better check it out in the galleries...
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Filed under: Tuners , Mercedes-Benz Click the image above for more pics of MyCar's CS500 Saudi tuner shops get different requests than the mod-masters in the US. While we may ask for bodyside moldings and a little something under the hood, the Saudis are just as likely to electroplate a precious metal onto their luxury rides. Since luxury vehicles seem to grow on trees in the world's oil capitol, tuner MyCar is challenged with differentiating these high-end vehicles to make them stand out in a crowd. This time, MyCar went as far as creating an all new Mercedes, the CS500. It's basically a gold S550 with the front end of a CL550, but MyCar thought it unique enough to give it its own name; the CS500. As you can see from the photo above, the CS500 looks good enough to trick the untrained eye into believing it's an all-new vehicle. Actually, the CL550 front end actually makes the S550 look a bit more stylish, if you ask us. Maybe someone in Stuttgart should take note. Thanks...
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Filed under: Daimler , Mercedes-Benz , Earnings/Financials Daimler is the latest in a long line of automakers to post a heavy decline for Q4 earnings in 2008. The German automaker was in the red to the tune of $1.95 billion, which is isn't a surprise considering October through December was among the worst periods for car sales in modern times. The loss was also a big swing from the $2.14 billion in profit Daimler posted in Q4 2007. Sales shrunk by 17% for the quarter as well, with net cash flow down by 12% to $26.9 billion. A big portion of Daimler's loss came courtesy of Chrysler, as the German automaker's 19.9% stake resulted in $1.4 billion in losses. Daimler is looking to unload it's share of Chrysler, but at this point will likely have to pay a massive premium to take the Auburn Hills, MI-based automaker off its books. Daimler still managed a $1.77 billion profit in 2008, though that's down from $3.77 billion just one year earlier. Don't expect Daimler to make...
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Filed under: Tech , Mercedes-Benz , AMG Click above for a high-res gallery of the Mercedes-Benz SL65 AMG Black Series Mercedes-Benz' in-house tuning arm, AMG, has announced the horsepower wars are over , and the automaker is gearing up to implement a new range of technologies that will help reduce fuel consumption by 2012. According to AutoTelegraaf, M-B will introduce start-stop technology on AMG models as early as next year, along with launching a direct-injection system based of the second-generation currently employed on the C350 CGI BlueEfficiency . The automaker has set an internal goal of reducing fuel consumption across its line-up by 30% in the next three years. While diesels and new engine technologies will go a long way to achieving that goal, Mercedes plans to begin reducing the weight of its vehicles through the use of more composite materials and other weight-saving assembly procedures. Gallery: 2009 Mercedes-Benz SL65 AMG Black Series [Source: AutoTelegraaf via Motor...
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Filed under: Mercedes-Benz Dealerships don't make the majority of their money on the sales side. The real case resides in the back of the store, where cars and trucks are serviced. In fact, the best dealers are said to make enough money on service to pay the bills, with vehicle sales providing the profit. Mercedes dealers were pulling in money hand over fist five years ago; not because the German luxury vehicles were flying off the shelf, but because they were breaking down regularly. The strain on Mercedes Benz to pay the massive warranty costs cut into profits, but the dealers were raking in the big bucks. Customers that buy vehicles that break down regularly don't tend to stay loyal, and the folks at Daimler headquarters know this. Mercedes has been working hard to improve quality, and the proof shows in the form of less traffic at M-B's service centers. While that's great for customers, it's bad news for dealers, as warranty work has gone down by 30% or more in some...
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Filed under: Spy Photos , Coupes , Mercedes-Benz The 2010 Mercedes-Benz E-Class Coupe has been caught in the clear -- almost nude -- with just a little tape around the lights and decklid at a company presentation in Mallorca. We'll have to spend some time with that sculpted flank in person just to make sure, but in pictures, the former E-Class and CLK have successfully come together in the new E-Class sedan and E-Class Coupe . It could also be the third best translation of the design language that began with the S-Class (the C-Class is second), leaving the CL-Class a distinctive-yet-distant fourth. We'd imagine the E-Class Coupe is set for a New York or Geneva Auto Show unveiling, where we can inspect it thoroughly. [Source: MotorPasion ] Spy Shots: Mercedes-Benz E-class coupe caught in the buff originally appeared on Autoblog on Mon, 26 Jan 2009 10:01:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments
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