DDAIF - Daimler AG

Other OTC - Other OTC Delayed Price. Currency in USD
51.85
-0.60 (-1.14%)
At close: 3:44PM EST
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Previous Close52.45
Open52.09
Bid0.00 x 0
Ask0.00 x 0
Day's Range51.74 - 52.17
52 Week Range44.80 - 67.20
Volume39,177
Avg. Volume41,472
Market Cap55.628B
Beta (5Y Monthly)1.56
PE Ratio (TTM)5.25
EPS (TTM)9.87
Earnings DateN/A
Forward Dividend & Yield3.64 (7.03%)
Ex-Dividend DateMay 21, 2019
1y Target Est60.17
  • How quantum computing is going to shape 2020
    Yahoo Finance Video

    How quantum computing is going to shape 2020

    IBM SVP of Cognitive Applications Bob Lord joins Yahoo Finance’s Dan Howley at the Consumer Electronics Show to discuss the latest developments in quantum computing.

  • Daimler CEO Says Auto Industry Is in Transformation
    Bloomberg

    Daimler CEO Says Auto Industry Is in Transformation

    Jan.08 -- Daimler Chief Executive Officer Ola Kaellenius discusses expanding in China and partnering with BMW. He speaks with Bloomberg's Christoph Rauwald from CES in Las Vegas.

  • Infiniti delays fastback-like QX55 crossover until late 2020
    Autoblog

    Infiniti delays fastback-like QX55 crossover until late 2020

    Infiniti confirmed it has delayed QX55 production by about five months. It explained it needs to "ensure production capability" at the Aguascalientes, Mexico, facility that will manufacture the model. It didn't provide additional details, though a spokesperson confirmed the new timeline to Automotive News.

  • Inside Tesla’s Attack on Germany’s Auto Establishment
    Bloomberg

    Inside Tesla’s Attack on Germany’s Auto Establishment

    (Bloomberg) -- German rangers stand guard to shoo away visitors from a nondescript stretch of forest near Berlin, where a sign nearby warns of “Lebensgefahr” (mortal danger).The precautions are part of the frantic activity underway to set up Tesla Inc.’s latest assembly plant, Elon Musk’s most daring attack on the German auto establishment. Workers wielding metal detectors have started combing through an area covering some 200 football fields to search for errant ammunition lurking beneath the sandy surface of tiny Gruenheide.It’s the first stage to prepare a site that could churn out as many as 500,000 cars a year, employ 12,000 people and pose a serious challenge to Volkswagen AG, Daimler AG and BMW AG. Once deemed free of World War II explosives, harvesters and trucks will roll in to clear thousands of trees in the first stage of development. The work needs to be done by the end of February to meet Tesla’s aggressive timetable. The project represents a second chance for the quiet town, nestled between two lakes on the edge of a nature reserve southeast of Berlin.Gruenheide lost out on a similar factory two decades ago, when BMW opted for Leipzig. That missed opportunity helped town officials to move quickly when Tesla expressed interest in building its first European factory in Germany, with a plot set aside for industrial use and offering easy access to the Autobahn and rail lines.Read More: Elon Musk’s German Factory Started With Love Letter From Berlin“The investment is a unique opportunity,” Mayor Arne Christiani said in his office, where a map of the Tesla project hangs on the wall. “It gives young people with a good education or a university degree the possibility to stay in our region—an option that didn’t exist in past years.”If it clears Germany’s red tape, the plant will make batteries, powertrains and vehicles, including the Model Y crossover, the Model 3 sedan and any future cars, according to company filings. The factory hall will include a pressing plant, paint shop and seat manufacturing in a building that will be 744 meters (2,440 feet) long—nearly triple the length of the Titanic. There’s space for four such facilities.Musk is taking his fight for the future of transport into the heartland of the combustion engine, where the established players long laughed off Tesla as an upstart on feeble financial footing that couldn’t compete with their rich engineering heritage. He casually dropped the news at an awards ceremony in Berlin in November, leaving the top brass of Germany’s car industry shell-shocked.“Elon Musk is going where his strongest competitors are, right into the heart of the global auto industry,” said Juergen Pieper, a Frankfurt-based analyst with Bankhaus Metzler. “No other foreign carmaker has done that in decades given Germany’s high wages, powerful unions and high taxes.”Building a factory in Europe’s largest car market is a major test of Musk’s global ambitions. Demand in the region is flat, and buyers are more loyal to local brands. Meanwhile, labor costs in Germany’s auto sector are 50% higher than in the U.S. and five times what they are in Poland, just an hour’s drive away from Gruenheide.Gruenheide TimelineEnd February: Finish tree logging before migrant birds nest March 5: Deadline for comments from nearby residents March 18: Public meeting to discuss the project Mid-2020: Construction expected to begin July 2021: Targeted start of productionOn the positive side, electric cars require less labor to build, and Germany has a deep reserve of auto experts. The location also offers the soft-power advantage of proximity to the country’s leaders.Under pressure for being slow to pick up on the electric-car shift, Chancellor Angela Merkel’s government extended a welcoming hand to Musk. Economy Minister Peter Altmaier offered to try to ease regulatory hurdles that may snag construction. “There’s a lot at stake” in Tesla’s plan, he said soon after the project was announced.Musk’s incursion comes at a strategically opportune time. Riding a wave of optimism after successfully starting deliveries of its China-built Model 3 sedans a year after breaking ground on a factory there, Tesla’s stock has doubled in the past three months.Meanwhile, German peers are struggling with the costly shift away from combustion engines. Volkswagen and Mercedes-Benz parent Daimler announced thousands of job cuts last year, when German car production fell to its lowest level in almost a quarter of a century. For Gruenheide, the planned investment has suddenly transformed the town of 8,700 people into a sought-after location. Local officials receive development proposals on a daily basis: anything from 22-story apartment towers to U.S.-style shopping malls, said Christiani, who hopes the plant will help unlock financing for public transport, schools and medical facilities.In the town hall, five thick binders are available for locals to peruse the project’s details, including 463 trucks expected to roll into the plant each day, a rail spur for train deliveries and an on-site fire brigade.Tesla still has to jump through a number of hoops. Residents have the chance to raise objections, and some have bemoaned that they’ve seen little from the company since its blockbuster announcement. Meanwhile, the local water utility warned it won’t be able to supply the site in time and raised concerns over its location in a zone meant to help protect drinking water supplies.And then the company has to carry out initiatives to protect wildlife—including scaring off any wolves in the area, relocating hibernating bats and removing lizards and snakes until construction is finished. The U.S. carmaker also has to replace felled trees.The mayor expects these hurdles to be cleared so that the first made-in-Gruenheide Teslas can roll out in July 2021.“The forest is classified as a harvest-ready, inferior pine forest,” Christiani said. “It was never supposed to be a rain forest.”—With assistance from Hayley Warren  (Adds criticism from water utility in 17th paragraph.)To contact the author of this story: Stefan Nicola in Berlin at snicola2@bloomberg.netTo contact the editor responsible for this story: Chris Reiter at creiter2@bloomberg.net, Craig TrudellChad ThomasFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Financial Times

    Toyota makes big bet on flying taxi company Joby

    start-up that aims to launch services as soon as 2023, leading a $590m funding round for California-based Joby Aviation. The new funding takes the total Joby has raised to $720m, according to a person familiar with the deals, who claimed it as the “most well-funded air taxi company” to date. , a German rival backed by Mercedes-Benz parent Daimler, has raised €81m and hopes to launch commercial services in Singapore by 2022.

  • Toyota Makes a New $394 Million Bet on Flying Taxis
    Bloomberg

    Toyota Makes a New $394 Million Bet on Flying Taxis

    (Bloomberg) -- Toyota Motor Corp. is making a $394 million investment in Joby Aviation, one of the handful of companies with the seemingly implausible goal of making electric air taxis that shuttle people over gridlocked highways and city streets.Toyota is the lead investor in Joby’s $590 million Series C funding, alongside Baillie Gifford and Global Oryx and prior backers Intel Capital, Capricorn Investment Group, JetBlue Technology Ventures, SPARX Group and its own investment arm, Toyota AI Ventures. The deal, for now, makes the Santa Cruz, California-based Joby the best-funded “eVTOL” (electric vertical take-off and landing) startup in a booming category that must overcome significant regulatory hurdles and concerns about passenger safety and noise, bringing the total money it has raised to $720 million.“Air transportation has been a long-term goal for Toyota, and while we continue our work in the automobile business, this agreement sets our sights to the sky,” said Toyota President and Chief Executive Officer Akio Toyoda. “As we take up the challenge of air transportation together with Joby, an innovator in the emerging eVTOL space, we tap the potential to revolutionize future transportation and life.”Over the past year, the 82-year Japanese automaker has deepened its interests in futuristic transportation technologies. Last year it backed Recogni Inc., a Silicon Valley maker of autonomous vehicle systems, and May Mobility, an Ann Arbor, Michigan-based operator of self-driving shuttle buses. At CES earlier this month, Toyota announced its intention to build a 175-acre community, or  “Woven City”, at the base of Mount Fuji to serve as a showcase for self-driving cars and other innovations in transportation.Joby is an emerging player in a field of air-taxi companies that includes Airbus SE; South Korean automaker Hyundai, which recently announced plans to design and produce an air taxi with Uber Technologies Inc.; and Kitty Hawk, the brainchild of Alphabet co-founder Larry Page, which is developing an air taxi in conjunction with Boeing Co. Volocopter, a startup in Germany, is backed by Zhejiang Geely Holding Group Co., the biggest investor in Mercedes-Benz maker Daimler AG and owner of Swedish manufacturer Volvo and British automaker Lotus.In addition to announcing the funding, Joby released an image of its prototype aircraft. The vehicle, which looks like an oversized toy drone, sports six electric propellers and is capable of flying 150 miles on a single charge, at speeds of up to 200 miles per hour, the company said. It’s designed to carry four passengers and a pilot, an approach that differs from that of rivals such as Kitty Hawk, whose two-seat “Cora” vehicle is intended to fly autonomously, without an onboard pilot.Joby says it will manufacture prototypes at a facility in Marina, California, near Monterey, but plans to tap Toyota’s famous manufacturing prowess to build “highly reliable complex hardware at increased scale,” said Paul Sciarra, Joby’s executive chairman and a co-founder of Pinterest.In December, Joby and Uber announced a separate partnership to jointly introduce Joby air taxis in at least two cities, with customers booking and paying for flights via the Uber app.The most pressing challenge for Joby, which now has around 400 employees, is obtaining certification from the Federal Aviation Authority and other regulatory agencies around the world. Joby says this is a three- to five-year process that it formally began in 2018.Over the past few years, both the FAA and the European Union Aviation Safety Agency (EASA) have moved to support commercial development of air taxis and released special guidelines to regulate small aircraft, with rules that differ from those governing conventional helicopters and fixed-wing airplanes. Much work remains, said Robin Lineberger, head of the Aerospace & Defense practice at Deloitte, including creating a system to manage municipal airspace in both normal and poor weather conditions and building physical infrastructure such as mini-airports that can support frequent takeoffs, landings and aircraft recharging.“The 2023 to 2025 time frame is fairly straightforward” for small demonstrations, Lineberger said. But he looks to 2035 “as a practical date for having a ubiquitous operational fleet in the thousands—not the hundreds—with a well-established framework for regulatory approval.”Sciarra and Joeben Bevirt, Joby’s founder and CEO, say they’ve spent significant time with Toyoda in Toyota City, Japan, as well as with other Toyota executives at Joby’s headquarters on a windy, 500-acre ranch in the hills north of Santa Cruz. They would not say whether they offered them a ride on the prototype aircraft, but Bevirt said: “They’re a loyal and tenacious company and this has been a dream of the Toyoda family for a very long time.”To contact the author of this story: Brad Stone in San Francisco at bstone12@bloomberg.netTo contact the editor responsible for this story: Dimitra Kessenides at dkessenides1@bloomberg.netFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Benzinga

    Sliding Sales Prompt Restructuring At Daimler Trucks

    Daimler Trucks sales fell 4% globally in the first 11 months of 2019 as sales in Europe and North America contracted faster than expected, leading to "extensive structural measures" to reduce production and improve profitability. "For two years, up until the third quarter of last year, we had an unusually high market," Ola Källenius, chairman of the board of Daimler AG (OTC: DDAIF), said in a media roundtable Jan. 7 at CES 2020. Daimler Trucks North America, for example, was caught short of capacity to meet surging demand in late 2018 and early 2019, losing significant market share in heavy- and medium-duty trucks.

  • China Auto Market Slump Persists: Is a Revival in the Cards?
    Zacks

    China Auto Market Slump Persists: Is a Revival in the Cards?

    According to CAAM projections, China auto sales are likely to fall 2% in 2020, which would mark the third straight year of sales decline.

  • Financial Times

    German industry: car alarm

    Monday brought a shock warning that hundreds of thousands of Germans could lose jobs in the car industry over the next decade. The group’s decision to cut staff in Germany comes soon after owner PSA agreed a merger with Fiat Chrysler. The country is set to lose its grip on the most lucrative links in the car industry value chain.

  • Is the Takata Airbag Recall Saga Finally Coming to an End?
    Zacks

    Is the Takata Airbag Recall Saga Finally Coming to an End?

    Takata is recalling another 10 million air bag inflators. This may mark the final campaign scheduled under the 2015 agreement with NHTSA.

  • Aston Martin Is a Binge Too Far for China’s Geely
    Bloomberg

    Aston Martin Is a Binge Too Far for China’s Geely

    (Bloomberg Opinion) -- Timing is everything in investing, a refrain the ambitious Li Shufu might want to heed.The Geely Group has held preliminary talks about a possible investment in Aston Martin Lagonda Global Holdings Plc, the high-end but encumbered British carmaker of James Bond fame. Billionaire Lawrence Stroll, owner of the Racing Point Formula One team, is also among the investors looking to pump in fresh capital. At first blush, this isn’t surprising. Struggling to dent the world market with Geely Automobile Holdings Ltd.’s(1) own vehicles, the Chinese auto executive has developed a modus operandi of appearing to ascend the value chain by picking up marquee brands, financially precarious though they may be. Through his holding company Zhejiang Geely Holding Group, Li splashed out $9 billion to build a 9.7% stake in Mercedes Benz-maker Daimler AG in 2018. Zhejiang Geely owns or has stakes in Volvo AB, Lotus Cars, Malaysia’s Proton Holdings Bhd and even a flying car company, Terrafugia Inc., either directly or through its subsidiaries.Li is trying to stay ahead of the expensive technology curve. Earlier this month, Geely set up a joint venture with Daimler to make the electric version of Smart cars in China. The company has an electric vehicle battery joint venture with South Korea’s LG Chem Ltd. Geely has also used Volvo Car Group in a joint venture to subsidize Lynk  & Co., a more upmarket version of Geely’s homegrown brands that’s so far sold primarily in China.So, Aston Martin seems to fits in. But this time, Li has more to consider: business at home. Geely Auto sold 1.36 million cars last year, posting $2.8 billion in profit for the 12 months to June 30, but the Chinese market is struggling to find a footing. Retail car sales tumbled more than 7% in 2019, with production down 9.5%. All told, sales in the world’s largest car market are shrinking and the competition to survive is getting stiffer.  The outlook is grim. While new car buyers accounted for two-thirds of sales over the last five years, the next five will likely be driven by replacement demand, Goldman Sachs Group Inc. forecasts. To keep up with upgrading consumers, most automakers, including Geely, are rolling out new models of multi-purpose vehicles (the category that lies between SUVs and family vans).  Sure, Geely is investing in a future of  electric cars, but the costs for mass adoption remain high. Geely has done better through the downturn by maintaining a fine balance between production, sales and inventory. But it has had to slash sales targets, moving further away from its goal of selling 2 million vehicles by 2020. While Lynk sales volumes rose, net profit fell. Research and development costs continue to climb. Geely remains exposed to lower-tier cities, where demand has cratered.Vanity buying is best saved for more upbeat times. Investing in Aston Martin will be a cash sink, premium brand or not. Low as the price may be, a stake won’t add value to Li’s auto portfolio any time soon given its debt burden and a struggling core business. The Geely group should have other priorities, especially its finances. Debt at Zhejiang Geely totaled 136 billion yuan ($19 billion) at the end of September 2019, up from 92 billion yuan a year earlier. Previous stake purchases have come with leverage. To buy Daimler, for instance, Geely took to using complex derivatives. Its ratio of net debt to earnings before interest, tax, depreciation and amortization rose to 1.4 times in 2018 from 0.6 times in 2017, according to S&P Global Intelligence, because it took on a fair amount of debt to fund the acquisition of its 8% stake in Volvo AB. The credit rater estimated that the leverage ratio could rise further on lower sales and shrinking margins. Meanwhile, the parent actively supports various operations at subsidiaries.Geely may find the slow lane is best for now. (1) 44.1% owned by Zhejiang Geely Holding Co.To contact the author of this story: Anjani Trivedi at atrivedi39@bloomberg.netTo contact the editor responsible for this story: Patrick McDowell at pmcdowell10@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Anjani Trivedi is a Bloomberg Opinion columnist covering industrial companies in Asia. She previously worked for the Wall Street Journal. For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Mercedes-Benz to build smart brand cars with Geely in China's Xi'an: senior executive
    Reuters

    Mercedes-Benz to build smart brand cars with Geely in China's Xi'an: senior executive

    BEIJING/SHANGHAI (Reuters) - Mercedes-Benz will build smart-branded electric cars with Zhejiang Geely Holding Group in the Chinese city of Xian from a base with annual capacity of around 150,000 vehicles, a senior official from its German parent Daimler AG said on Saturday. Daimler's Executive Vice President in China Leng Yan made the comments to Reuters on the sidelines of China's EV100 forum in Beijing, an annual event where senior auto industry executives meet to discuss policies and the market. Geely and Mercedes-Benz said on Wednesday they would each invest 2.7 billion yuan ($388.8 million) in a China-based venture to build "premium and intelligent electrified" vehicles under the Smart brand.

  • Mercedes-Benz to build smart brand cars with Geely in China's Xi'an: senior exec
    Reuters

    Mercedes-Benz to build smart brand cars with Geely in China's Xi'an: senior exec

    BEIJING/SHANGHAI (Reuters) - Mercedes-Benz will build smart-branded electric cars with Zhejiang Geely Holding Group [GEELY.UL] in the Chinese city of Xian from a base with annual capacity of around 150,000 vehicles, a senior official from its German parent Daimler AG said on Saturday. Daimler's Executive Vice President in China Leng Yan made the comments to Reuters on the sidelines of China's EV100 forum in Beijing, an annual event where senior auto industry executives meet to discuss policies and the market. Geely and Mercedes-Benz said on Wednesday they would each invest 2.7 billion yuan ($388.8 million) in a China-based venture to build "premium and intelligent electrified" vehicles under the Smart brand.

  • Reuters

    China's Geely in talks to take stake in Aston Martin

    The Chinese group is conducting due diligence on the 107-year-old UK business, the cars of which are the drive of choice for fictional British secret agent James Bond, the FT reported, citing four people familiar with the discussions. News of Geely's interest comes a month after Aston Martin confirmed it was in early talks with potential investors as it launched a review of its funding.

  • Benzinga

    Pay-As-You-Drive Lease Option Could Protect Carriers During Market Slowdowns

    The constant ebb and flow of the trucking industry can make it difficult for fleets to accurately predict how many loads they can expect to move next quarter, much less next year. This can make leasing equipment a gamble.

  • Soaring SUV sales clash with attempts to slow climate change
    Autoblog

    Soaring SUV sales clash with attempts to slow climate change

    Soaring demand for SUVs drove record sales for premium carmakers including BMW and Mercedes last year, leaving the industry on collision course with government efforts to tackle global warming despite big investments in electric vehicles. BMW said on Friday deliveries by its main luxury brand rose 2% to a record 2,168,516 vehicles last year, thanks to a 21% jump in sales of its "X" branded SUVs, which now make up 44% of the BMW brand's global sales. At Mercedes-Benz, the world's best selling premium car brand, every third luxury car sold last year was an SUV.

  • Reuters

    Soaring SUV sales keep carmakers on collision course with climate policy

    Soaring demand for SUVs drove record sales for premium carmakers including BMW and Mercedes last year, leaving the industry on collision course with government efforts to tackle global warming despite big investments in electric vehicles. BMW said on Friday deliveries by its main luxury brand rose 2% to a record 2,168,516 vehicles last year, thanks to a 21% jump in sales of its "X" branded sport-utility vehicles (SUV) which now make up 44% of the BMW brand's global sales. At Mercedes-Benz, the world's best selling premium car brand, every third luxury car sold last year was an SUV.

  • Reuters

    BMW says it sold 2.52 million BMW, Mini and Rolls-Royce vehicles in 2019

    BMW said it sold 2.52 million BMW, Mini and Rolls-Royce vehicles in 2019, making it the best-selling premium car group, ahead of rival Daimler . Daimler said on Thursday it had sold 2.34 million Mercedes-Benz passenger cars in 2019 for a ninth consecutive year of record sales.. BMW said its BMW brand posted a sales record of 2.17 million vehicles in 2019.

  • Financial Times

    Geely in talks to pump cash into Aston Martin

    China’s Geely has held talks with Aston Martin investors and management as it considers pumping much-needed cash into the luxury carmaker. The talks may lead to a technology partnership rather than a full investment, one of the people said. The share price rose 15 per cent on Friday after the FT broke news of the talks.

  • Auto Stock Roundup: TSLA's Record Q4 Deliveries, GM's China Sales Slump & More
    Zacks

    Auto Stock Roundup: TSLA's Record Q4 Deliveries, GM's China Sales Slump & More

    While Tesla (TSLA) reports solid fourth-quarter 2019 deliveries on rising Model 3 demand, General Motors (GM) posts double-digit decline in China sales in 2019.

  • Mercedes-Benz poised to clinch premium sales crown for 2019
    Reuters

    Mercedes-Benz poised to clinch premium sales crown for 2019

    Daimler sold 2.34 million Mercedes-Benz passenger cars in 2019 for a ninth consecutive year of record sales, it said on Thursday, putting the German carmaker in pole position to retain the title of biggest-selling premium car brand. Stuttgart-based Daimler claimed it had retained the title of best-selling luxury car brand. As a carmaking group, BMW sold 2.52 million vehicles last year to beat Daimler's 2.46 million Mercedes-Benz and Smart vehicles over the same period.

  • Takata recalls 10 million air bag inflators — part of largest auto recalls in U.S. history
    MarketWatch

    Takata recalls 10 million air bag inflators — part of largest auto recalls in U.S. history

    Cars made by Audi, BMW, Honda, Daimler Vans, Fiat Chrysler, Ferrari, Ford, General Motors, Mazda, Mitsubishi, Nissan, Subaru, Toyota and Volkswagen could be affected.

  • Geely and Mercedes-Benz invest $780 million to make electric Smart cars
    Autoblog

    Geely and Mercedes-Benz invest $780 million to make electric Smart cars

    BEIJING/SHANGHAI — Zhejiang Geely and Mercedes-Benz on Wednesday said they would each invest $388.77 million (2.7 billion yuan) in a China-based venture to build "premium and intelligent electrified" vehicles under the Smart brand. The 50:50 venture has received regulatory approval and will be based in the Chinese coastal city of Ningbo, the Chinese and German automakers said in a statement. Like Mercedes-Benz, smart is a Daimler marque.