Daimler hurt by dollar but sees no U.S. recession

Chief Executive Dieter Zetsche does not expect the U.S. economy to contract as a result of high oil prices and the real estate crisis.

"I personally do not anticipate a recession in the USA, rather a reduction in growth," Zetsche told reporters in Hamburg on Wednesday evening, adding that the softer demand would impact the U.S. car market.

The CEO also rebutted Wednesday's market speculation that Cerberus, which bought an 80 percent stake in Chrysler from Daimler earlier this year, had called on the German carmaker to extend a $1.5 billion loan.

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- Posted: 2007-11-22 10:32:14

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