DaimlerChrysler Reports New Sales Records At Frankfurt Motor Show
15 September 1999
DaimlerChrysler Reports New Sales Records At Frankfurt International Motor Show (IAA)
Passenger car revenues through August up 12 percent
Trendsetter with innovations in all passenger car brands
DaimlerChrysler lifts revenue expectations for 1999 to $155 billion
(Euro 146 billion) due to greater growth in all divisions
FRANKFURT, Germany, Sept. 15 -- DaimlerChrysler
reported new sales records for all of its passenger car brands at its first
appearance in the International Motor Show (IAA) in Frankfurt. From January
through the end of August of this year, DaimlerChrysler sold more than 2.8
million passenger cars, Minivans, SUVs and trucks worldwide and posted
revenues of approximately $68.9 billion (Euro 65.0 billion), up 12 percent
over the same time period last year.
"This sets a new record both for all our models combined as well as our
individual brands," said Robert J. Eaton and Juergen E. Schrempp, Chairmen of
the company formed in November 1998. "In our major markets, we are growing
significantly faster than the industry as a whole."
DaimlerChrysler raises revenue target for 1999 to $155 billion
(Euro 146 billion)
In the first eight months of this year, DaimlerChrysler's total revenues
across all business activities were approximately $101.2 billion (Euro 95.5
billion), 13 percent higher than last year's total of $89.7 billion for the
same period.
"Judging from the very positive results so far this year, we can expect to
exceed our revenue goal for the year," Schrempp and Eaton said. "We are now
anticipating total revenues of approximately $155 billion (Euro 146 billion)
for 1999." Up to now, DaimlerChrysler had forecasted revenues of over $148
billion (Euro 140 billion) for the full year.
Numerous innovations and new designs at the IAA
Some of the attractions of this year's IAA include new vehicle design
studies from DaimlerChrysler such as the Study Mercedes-Benz Vision SLR
Roadster, the Chrysler Java design story, the fuel-cell powered Jeep(R)
Commander and the smart Roadster. Furthermore, DaimlerChrysler is introducing
a wide assortment of new cars, including the new Mercedes-Benz Coupe CL,
Chrysler PT Cruiser, Chrysler Neon, smart Cabriolet and smart Diesel.
"Here in Frankfurt the power of DaimlerChrysler is evident by the fact
that we have a concept car for all our brand categories," said Schrempp and
Eaton. "DaimlerChrysler has the strongest tradition in the automotive sector.
We value our heritage and are committed to build on it, to achieve our goal
which is to set the pace for the entire industry in quality, design, and
technology for many years to come."
Visitors of the IAA will also discover pioneering innovations at all three
of DaimlerChrysler's exhibition stands -- Chrysler, Mercedes-Benz and smart.
Under the title, Predictive Crash Analysis, DaimlerChrysler engineers are
developing a new system that further improves passenger safety by providing
early recognition of accidents. In the area of telematics services, the
company is introducing the "Floating Car Data" (FCD) system, which is based on
the continuous exchange of information among vehicles. This data is collated
at a central location, evaluated and sent to all participating vehicles as up-
to-date traffic information. The Jeep Commander demonstrates the first four-
wheel drive application of fuel cell technology while smart has developed the
market's most affordable common-rail direct injection engine.
Passenger car sales up 8 percent - all brands contribute
The success of all of DaimlerChrysler's passenger car brands -- Mercedes-
Benz, Chrysler, Jeep, Dodge, Plymouth and smart -- can also be seen from the
latest sales figures indicating a record interim figure: DaimlerChrysler sold
more than 2.8 million passenger cars, minivans, SUVs and pickups between
January and August of this year, a 8 percent increase from the same period
last year.
"Once again, this outstanding result makes clear how attractive our whole
range of products is for our customers around the world," the Chairmen said.
Mercedes-Benz and smart up 20 percent --
Sales goal for 1999: more than 1 million vehicles
The "Passenger Cars Mercedes-Benz and smart" division increased its year-
to-date sales worldwide by about 20 percent to 689,100 units, compared to
573,600 cars for the same period last year, representing revenues of
approximately $25.5 billion (Euro 24.1 billion) an increase of 15 %.
In Western Europe, DaimlerChrysler sold about 476,600 Mercedes-Benz and
smart cars through the end of August, a 24 percent increase. In the U.S.
123,600 units were sold, representing an 11 percent increase. In Japan, the
company sold 34,300 Mercedes-Benz passenger cars, representing a 38 percent
increase.
In view of the extremely strong first eight months of this year,
DaimlerChrysler projects that for the first time well more than one million
passenger cars of the Mercedes-Benz and smart brands will be sold worldwide
this year.
Chrysler, Jeep, Dodge and Plymouth revenues increased by 10 percent
The "Passenger Cars and Trucks Chrysler, Plymouth, Jeep, Dodge" division
likewise reports growth in sales and revenues. Worldwide, DaimlerChrysler
sold 2,133,800 passenger cars and trucks of the brands Chrysler, Jeep(R),
Plymouth and Dodge brands through the end of last month, an increase of more
than 4 percent compared with the same period last year (2,046,700). Revenues
grew by 10 percent to $43.4 billion, up from $39.4 billion in the same period
last year.
In the U.S., the company reported a sales growth of 7 percent to an
interim total of 1,801,700 units.
For the current calendar year, the company expects to sell more than 3
million passenger cars and trucks of the brands Chrysler, Jeep(R), Dodge and
Plymouth worldwide.
DaimlerChrysler commercial vehicles sales up 17 percent
DaimlerChrysler has continued the positive trend of the first half-year in
commercial vehicles too with its whole range of brands including Mercedes-
Benz, Freightliner, Sterling and Setra. In fact, DaimlerChrysler leads the
industry worldwide in the over 6 tons segment. World sales through August
grew to 363,300 units, a 17 percent increase from the same period last year
(311,400) to reach an all-time record. Revenues are up 16% to an all-time
high of $18.4 billion compared with $15.8 billion last year.
The company expects another record year in the commercial vehicles
division with world sales expected to top 500,000 units for the first time in
its history, in spite of new orders declining in the industry segment as a
whole.
Leadership in innovation is being extended further
DaimlerChrysler is continuing to invest heavily in research and
development as the basis of the company's well-being in the future. The
company will invest more than $49 billion (Euro 46 billion) by 2001 on new
projects and products that will be the forerunners of new technologies.
On average, the company is investing more than $44 million (Euro 42
million) daily in research and development projects as well as in equipment
and manufacturing stock in order to maintain and extend its position as a
leader in innovation. "DaimlerChrysler is committed to setting the
technological pace for the industry now and in the years to come," the
chairmen said, "Our investments in new technology will make us one of the most
innovative automotive manufacturers worldwide." The company will introduce 64
completely new passenger car and commercial vehicle models before the year
2004.
The DaimlerChrysler merger opened up new perspectives, since the Mercedes-
Benz, Chrysler, Jeep, Dodge, Plymouth and smart brands now retain exclusive
rights to technological innovations for longer periods of time. In the past,
cutting-edge developments such as the airbag, anti-lock breaking systems (ABS)
and electronic stability program (ESP) often had to be passed on to
competitors after a brief period of exclusive control in order to achieve
affordable costs. Now DaimlerChrysler can first introduce such systems in its
own brands, which gives rise to further competitive advantages.