What are some of the brands on the Kelley Blue Book list of rising and falling automakers?
Daimler AG executives may have thought they had escaped the brutal economics of the mainstream auto market when they got rid of Chrysler in the summer of 2007. But a little over a year later, Daimler and other luxury carmakers are struggling in a downturn that has buffeted the fanciest nameplates as severely as the rest of the industry. Daimler reported this week that its Mercedes-Benz Cars division lost $460 million in the fourth quarter of 2008 and it forecast lower Mercedes sales for this year. Moody’s Investors Service lowered its outlook for Daimler and said it may cut its credit rating for BMW, citing concerns about the companies’ profitability. Advertisement Quantcast In contrast with past recessions, this slump is hurting many wealthy people who usually ride out economic ups and downs. “This recession is one that is not respectful of social class,” said Johan de Nysschen, president of Audi of America. “It’s one that’s cutting very deeply at all layers of society.” Many premium
