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Report: Mercedes-Benz targets 9.5 percent margin by 2009

From Reuters| March 01,2007

DaimlerChrysler's Mercedes Car Group aims to boost unit sales by a fifth and generate an operating margin of 9.5 percent by 2009, a German magazine reported, citing company planning documents.

Report: Mercedes-Benz targets 9.5 percent margin by 2009

DaimlerChrysler declined to comment on the report in Capital magazine, a summary of which was released ahead of publication on Thursday, March 1.

The planning document envisions boosting unit sales at Mercedes -- which groups the Mercedes-Benz, Maybach and Smart brands -- to 1.5 million units in 2009, helped primarily by the new Mercedes-Benz C-class car, the report said.

The division's earnings before interest and tax were seen advancing to $6.94 billion (5.25 billion euros) while the workforce would shrink to 94,500 from around 100,000, it added.

Mercedes has said its operating margin will rise to at least 7 percent this year from 4.4 percent in 2006.

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