March 22, 2006
Smart to break even in 2007
Munich, Germany – The Smart brand will break even in 2007 according to DaimlerChrysler’s chief financial officer Bodo Uebber, reports the news agency Just Auto. Smart has not made a profit since it debuted in 1998, although losses in 2005 were narrower than those in 2004. The improved financial position is expected to come from cost reductions. Uebber also said that the company “is in no rush” to sell cars to the U.S.; a Smart display was presented at the Detroit Auto Show in January 2005, but the vehicles have yet to go on sale in the U.S.