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Daimler: Higher Unit Sales in 2010

Daimler, the German car and truck maker, posts a larger-than-expected fourth quarter loss, but anticipates rising unit sales in 2010.
Author:

STUTTGART, Germany (

TheStreet

) -- German car and truck maker

Daimler

(DAI)

posted a wider-than-expected fourth quarter loss, but anticipates rising unit sales in 2010.

Daimler said that current estimates show worldwide demand for automobiles will grow 3% to 4% compared with 2009. The company believes that its Mercedes-Benz cars will be able to defend its market position this year; therefore, Daimler aims to increase unit sales in 2010. Furthemore, Daimler Trucks and Mercedes-Benz Vans also anticipate rising unit sales. The group is expected to see EBIT of more than 2.3 billion euros from its ongoing business, while Daimler expects positive EBIT of more than 2.3 billion euros for 2010.

Daimler reported a wider-than-expected fourth-quarter loss of 352 million euros ($478 million), and won't be paying a dividend for 2009.

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Daimler stock has tumbled 6.6% to $42.10 in premarket trading.

-- Reported by Andrea Tse in New York

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