Daimler Expects 2002 Profit After Loss

DaimlerChrysler said it will return to profit this year after posting a fourth-quarter loss on reorganization costs at the U.S. Chrysler car and Freightliner truck units.

“Net income this year will be positive with and without one- time effects,” said Chief Financial Officer Manfred Gentz.

Chief Executive Juergen Schrempp said the outlook for 2002 operating profit was halved because of weakening economies in Europe, the U.S. and Japan. The Stuttgart, Germany-based car maker expects the U.S. car and light-truck market to decline to 15 million units this year from 16 million in 2001.

The auto maker’s U.S. shares rose $1.32, or 3.7%, to $36.95 on the New York Stock Exchange.