GM's one-two punch could lack both one and two
Article Abstract:
Strikes at 2 parts plants will diminish GM's summer marketing strategy for its popular full-size pickups. High sales were intended to catapult production of 1999 models at 4 North American plants. The strikes have reduced inventory of the pickups, the most profitable sector of GM global sales, and threatened its production 1999 plans. Competitors, such as Ford Motor Co. and Chrysler Corp. are unable to capitalize on GM's problems since they are unable to produce enough pickups to meet demand. Sales of full-size pickups, the 2nd-largest North American vehicle market behind midsize cars, are expected to reach 2 million vehicles in 1998. GM had 40% of pre-strike market share for full-size pickups, with monthly sales of about 65,000 vehicles, before the strike.
Comment:
Chrysler and Ford unable to take advantage of GM strikes with increased production and sales of full-size pickups
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Chrysler loses S&P 500 spot after merger
Article Abstract:
Chrysler Corp will lose its place on the Standard and Poor's 500 stock index due to its impending merger with Daimler-Benz AG. The new DaimlerChrysler AG will be a German company, and S and P ruled that as such it must be excluded from the US index on the last day its shares trade on the Big Board, probably in mid-November 1998. The S and P exclusion is expected to hurt a Chrysler 30 million share sale planned for late Oct 1998. Chrysler shares were expected to fall despite September's 18% jump in sales over the previous year, to 194,390 vehicles.
Comment:
Loses its place on the Standard and Poor's 500 index due to the impending Daimler-Benz merger
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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DaimlerChrysler chiefs try to put a lid on expectations of extra merger savings
Article Abstract:
Juergen E. Schremp reiterated previous forecasts on the savings resulting from the merger of Chrysler Corp. with Daimler Benz. The joint company will now have to make crucial strategic decisions on combining purchasing departments, possible joint ventures and ending production duplication between the former companies. The results of these choices will determine whether DaimlerChrysler can exceed its goal of $500 million in savings.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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