Executives Tout Efficiency of Smart Fortwo, Headed to U.S. Dealerships in 2008

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Washington DC November 13, 2006; The AIADA newsletter reported that DaimlerChrysler AG unveiled a revamped version of its tiny two-seat Smart fortwo car, which will go on sale in the U.S. in early 2008 as part of a broader industry push to take advantage of higher gas prices and rising consumer interest in small, fuel-efficient vehicles, according to The Wall Street Journal.

The new fortwo gets 40 miles to the gallon and has been redesigned to meet U.S. safety regulations.

The car will start retailing for around $11,000 at 50-70 dealerships primarily located in large metropolitan area, said Roger Penske, Chairman of the UnitedAuto Group, Inc., which recently signed a general distribution agreement with DaimlerChrsyler to help sell the car.

"Given the higher cost of gas and increasing traffic congestion, the time is right for Smart ... in America," said DaimlerChrysler CEO Dieter Zetsche in a speech at the premiere.

DaimlerChrysler officials did not state how many Smart fortwos they expect to sell in the U.S.: "We're confident that the 'it' car in Europe can become the 'it' car in America – much as it has in European cities and, more recently, in Canada over this past year and a half, where sales have surpassed our most optimistic forecasts," Zetsche said.