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Daimler pegs Chrysler Q2 losses at nearly $2.26 billion

by Bill Cawthon on

According to Daimler AG figures released today, Chrysler lost about $2.26 billion in the second quarter. That figure is derived from Daimler’s International Financial Reporting Standards (IFRS) results with an  adjustment for the euro and Daimler’s 19.9 percent share.

In the world according to GAAP, Chrysler says its net loss was about $489 million on its automotive operations, which may not cover any losses at Chrysler Financial.

Chrysler attributes the difference of over a billion dollars to the differences between IRFS and the Generally Accepted Accounting Principles (GAAP) methods and to Daimler making over $592 million worth of adjustments the Detroit automaker says are not related to Chrysler Holdings LLC. Such adjustments might include residual write-downs from leases written while Chrysler was merged with Daimler. Factoring out the unrelated charges, Daimler is saying Chrysler’s second-quarter loss (IFRS) was just over 1.1 billion dollars.

Bill Cawthon grew up in the auto industry in the 1950s. His Dad worked for Chrysler and Bill spent a number of Saturdays down on the plant floor at Dodge Main in Hamtramck. Bill is also the U.S. market correspondent for, a British auto industry publication, and a member of the Texas Auto Writers Association, which has named the Jeep Grand Cherokee the “SUV of Texas” several times and named the Ram 1500 as the “Truck of Texas” two years running.

Bill has owned five Plymouths (including the only 1962 “Texan”), one Dodge and one Chrysler and is still trying to figure out how to justify a Wrangler. He also has owned at least one of every 1:87 scale model of a Chrysler product. You can reach him directly at (206) 888-7324 or by using the form.

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