Daimler trucks unit sees profits in India by 2017 - report

Image
Reuters BERLIN
Last Updated : Mar 07 2014 | 2:16 PM IST

BERLIN (Reuters) - Daimler's trucks division may return to profit in India by 2017 as the weak rupee is proving a boon to exports from the new Chennai factory, Frankfurter Allgemeine Zeitung reported on Friday, citing unit chief Wolfgang Bernhard.

"The fall in value of the rupee is an opportunity that allows us to make money on exports from Chennai," the newspaper quoted Bernhard as saying in an interview.

Daimler's plant in Chennai, where the German company assembles vans and heavy-duty trucks, was completed in 2012 at costs of 700 million euros.

Asia accounted for a third of Daimler's 484,000 truck sales last year.

(Reporting by Andreas Cremer, editing by William Hardy)

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Mar 07 2014 | 2:03 PM IST

Next Story