German auto giant Daimler plans to expand its board to include a member solely responsible for the company's China business to help iron out management troubles, a German magazine reported Sunday. News weekly Der Spiegel said in its issue to hit newsstands Monday that Daimler planned to fill the newly created eighth seat on its board from within and would approve the position at the next supervisory board meeting. When asked about the report, a company spokesman told AFP: "We do not comment on speculation." While fellow German luxury car manufacturers Audi and BMW have raced ahead in the increasingly important Chinese auto market, Der Spiegel said Daimler's Mercedes-Benz models had been slipping behind for a few years despite steady sales growth. Daimler chief executive Dieter Zetsche will have difficulty realising his goal of selling more cars worldwide than Audi and BMW by 2020 without boosting the company's position in China, according to the report. Der Spiegel said a key factor holding Daimler back in China was the fact it had two separate distribution networks there that had failed to work together. One sells cars from a German-Chinese joint venture and the other automobiles imported from Germany. Daimler posted 11.1 billion euros in sales in China in 2011, up 22 percent from the previous year.
GMT 17:19 2018 Thursday ,11 January
China factory gate inflation slows to 13-month lowGMT 17:50 2018 Wednesday ,10 January
German industrial output rebounds in NovemberGMT 17:39 2018 Wednesday ,10 January
Samsung tips record Q4 operating profit of more than $14 bnGMT 17:29 2018 Tuesday ,09 January
German industrial orders dip in NovemberGMT 15:36 2018 Thursday ,04 January
China factory activity accelerated in December: CaixinGMT 13:33 2018 Wednesday ,03 January
Turkey inflation rate eases but still stubbornly high in DecemberGMT 16:27 2018 Monday ,01 January
China manufacturing activity slows in DecemberGMT 17:36 2017 Sunday ,31 December
Spain to leave EU's deficit 'sin bin' next year: Rajoy
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor