Profits Warning From DaimlerChrysler

DaimlerChrysler (DCX) management has said that the company expects the Chrysler division to lose 1 billion Euros in the second quarter – industry analysts had been predicting a 200 million Euros profit. Lower revenues from vehicle sales and continuing high incentives in the US market were cited as two of the main reasons. Analysts have changed their full-year forecast for Chrysler from a 700 million Euros profit to a 336 million Euros loss.