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There`s no shortage of critics willing to share the opinion why the union DaimlerChrysler was doomed failing, but the 1998 merger bring some exciting products Stateside, that's includes the diesel-powered Jeep Grand Cherokee and the Sprinter Cargo Van. Friday reports have now the famous Dr. Z from the TV ads of the automaker, or Dieter Zetsche, CEO at Daimler more formally, admitting this partnership "couldn't achieve global integration."
The CEO spoke today at the St. Gallen Symposium in Switzerland, which was held at the "Global Capitalism, Local Values" theme, Automotive News reported. Zetsche affirmed that while this merger made theoretical some sense, the reality was a lot different. "[Global integration] was at odds with the image of our brands, the preferences of our customers, and many other success factors — all of which were far more diverse and fragmented," he said.
"It's fair to say that we overestimated the potential of passing leading-edge technology from Mercedes-Benz to Chrysler," he affirmed. "Unlike premium brand customers, American volume brand customers are far too price-sensitive to absorb its cost."
Daimler sold now 80.1 percent of the stake to the privately owned Cerberus last year for $7.4 billion.
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