Word: daimler
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While West German officials watched nervously, Jordan's King Hussein recently sped round and round a Stuttgart test track in a Mercedes 230 SL sports car, so enthralled that he refused to continue his tour of a nearby assembly plant. The products of Stuttgart's Daimler-Benz A.G. have proved irresistible not only to Hussein but to enough other kings and commoners to make Daimler Europe's third-ranked automaker and the Continent's biggest manufacturer of trucks and buses. Half the "big" cars-with engines larger than 1.7 liters-and half the trucks on German...
Cars to Trucks. Daimler is driving hard for an even better 1965. It has just begun full production of the new Grand Mercedes 600, a 20-ft.-long limousine that will cost as much as $16,000, and this month it will introduce a bus with "all the comforts of first-class air travel." The company is rushing work on a $75 million plant that will double Daimler's truck capacity. And Daimler-Benz General Director Walter Hitzinger, 56, met recently in Frankfurt with Volkswagen's Heinz Nordhoff to discuss an increase in the "cooperation" that began...
...Daimler, which was building cars as early as 1886, is the world's oldest existing automaker-and in some ways it acts its age. In Germany's rapidly expanding auto market, it cautiously concentrates its efforts on high-quality but low-volume automobiles. Explains Hitzinger: "We are interested in building vehicles in a class by themselves." Because of this exclusiveness, Daimler's annual production has risen by only 28,000 cars since 1961. Chief Stockholder Friedrich Flick, the 81-year-old tycoon who sets company policy, firmly adheres to traditional Daimler practices: the company never "rushes" into...
Last week France's sixth ranking auto company, Facel-Vega, went out of business. Meanwhile, the two largest German-owned auto companies, Volkswagen and Daimler-Benz, put through a partial merger. In an agreement that foreshadows further pooling of resources, Volkswagen anted up $20 million for half interest in Daimler-Benz's Auto-Union subsidiary...
...Stuttgart electrical shop, where Robert Bosch in 1886 started a modest business to install lightning rods, doorbells and telephones. He soon devised a new magneto-ignition that was superior to existing types, and in 1896 entered the young automobile business. He grew wealthy supplying such auto pioneers as Gottlieb Daimler, but continually worried over the money he made. Bosch gave away $5 million in World War I profits, explaining: "The profit I was making while other people were losing their lives depressed me." An old man by the time World War II broke out, Bosch began to worry about "keeping...