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After Pact to Shed Chrysler, Daimler
By Stephen Power
May 15, 2007
With its decision to reduce its stake in Chrysler to just under 20%, the Stuttgart, Germany, company is giving up its ambitions of being a car maker present in every segment of the market. DaimlerChrysler sells 4.7 million vehicles a year, making it the world’s fifth-biggest car maker in sales volume. Without Chrysler, Daimler’s sales will fall to around 2.1 million, less than those of France’s Renault SA—the world’s No. 10 auto maker in terms of vehicle sales.
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