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DaimlerChrysler to exit Iran

Old 02-12-2007, 08:35 PM
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Default DaimlerChrysler to exit Iran

Gosh, I certainly would.

DaimlerChrysler to exit Iran
The No. 5 auto maker will divest it's Mercedes distributor, reacting to pressure to not to do business in Iran, a magazine reports.



February 12 2007: 12:48 PM EST
FRANKFURT (Reuters) -- DaimlerChrysler intends to divest its majority stake in the company that is its exclusive distributor for Mercedes-Benz vehicles in Iran, Germany's WirtschaftsWoche magazine reported on its Web site.

"The group is reacting to the growing pressure that the United States is applying on companies that do business in Iran," the magazine said Monday, without giving a source for its information.

It said DaimlerChrysler would sell its 51 percent stake in marketing group Setareh in the next few weeks.

DaimlerChrysler, the world's fifth-biggest car maker thanks to the 1998 merger of Germany's Daimler-Benz with U.S. automaker Chrysler, declined comment.

Washington has been stepping up pressure on Iran, which it accuses of harboring ambitions to develop nuclear weapons. Iran insists its nuclear energy program is for peaceful purposes.

Shares of DaimlerChrysler (down $0.31 to $63.78, Charts) fell less than 1 percent in midday trading on the New York Stock Exchange. Shares of rival automakers GM (down $0.13 to $35.88, Charts), Ford (down $0.05 to $8.68, Charts), and Toyota (down $0.09 to $131.97, Charts) were little changed
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Old 02-12-2007, 10:47 PM
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Default RE: DaimlerChrysler to exit Iran

I would have done that a long time ago. I wouldn't want to have anything to do with those people.
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Old 02-13-2007, 06:56 AM
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Default RE: DaimlerChrysler to exit Iran

Why? Future predictions say it will be a "booming" market!!
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Old 02-13-2007, 11:44 AM
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Default RE: DaimlerChrysler to exit Iran

True, but it ill be a "dead" market before long.
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Old 02-13-2007, 05:26 PM
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Default RE: DaimlerChrysler to exit Iran

What will that change? Will Iranians be able to still but a Benz from this distributor? Sounds like it to me...
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Old 02-13-2007, 08:47 PM
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Default RE: DaimlerChrysler to exit Iran

I guess it will make it more difficult and not quite as common. If I was DCX, I wouldn't want my products to be sold to these guys (even if it meant a few less dollars in profit). Not someone you want to have listed as a customer and furthermore, not someone you want to have as an angry customer if something goes wrong.
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