DaimlerChrysler profit falls, Chrysler Group up

Automaker DaimlerChrysler AG said Wednesday its overall profit fell 14 percent in the second quarter, but that profits rose from its Chrysler Group and the related financial services business in North America.

The entire company posted a profit of 1.85 billion euros ($2.53 billion) in the April-June period compared with 2.15 billion euros a year earlier.

Its profit from continuing operations was 1.4 billion euros ($1.91 billion) compared to 1.8 billion euros a year earlier.

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Overall sales fell to 23.8 billion euros ($32.52 billion) from 24.6 billion euros last year.

But it said the Chrysler Group and related financial services in North America earned 406 million euros ($554.8 million) in the second quarter, an 18 percent rise from 342 million euros last year.

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DaimlerChrysler sold the Chrysler and North American financial services units to Cerberus Capital Management LLC earlier this month in a deal that saw the private equity group take an 80.1 percent stake in Chrysler for $7.4 billion.

The company also said it "anticipates a charge against earnings" of 2.5 billion euros ($3.42 billion) for the year, below its initial estimates of 3 billion euros to 4 billion euros ($4.1 billion to $5.47 billion).