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1、Moving PeopleAnnual Report 2003Annual Results Press ConferenceAnnual Report PresentationFebruary 19,2004,10 a.m.Mercedes Event Center(MEC)SindelfingenAnalysts and InvestorsConference CallFebruary 19,2004,2:30 p.m.Annual MeetingApril 7,2004,10 a.m.Messe BerlinInterim Report Q1 2004April 29,2004Interi
2、m Report Q2 2004July 29,2004Interim Report Q3 2004October 28,2004Finance Calendar 2004DaimlerChrysler AGStuttgart,GermanyAuburn Hills,USAAnnual Report 2003DaimlerChryslerKey FiguresAmounts in millions171,87060,22929,90091,24480,36620,3978,3327,018 20,7807,1635640.551,913DaimlerChrysler Group136,4374
3、7,81223,73672,43363,79816,192362,0636,6145,571 16,4965,6864480.441,5191.50147,36845,89422,69586,44676,44515,028365,5717,1455,942 18,0166,8544,7184.681,5191.50150,38645,06823,98090,20279,60715,116372,4708,8965,848 15,944(1,318)(662)(0.66)1,0031.00-72+4+5-16-17+8-1-7-6-8-17-91-91+0+/-02002200103/02200
4、32003US$1Change in%RevenuesEuropean Unionof which:GermanyNorth Americaof which:USAOther marketsEmployees(at year-end)Investments in property,plant and equipmentResearch and development expenditureCash provided by operating activitiesOperating profit(loss)Net income(loss)per share(in US$/)Total divid
5、endDividend per share(in)1 Rate of exchange:1=US$1.2597(based on the noon buying rate on Dec.31,2003).2 A 3%increase after adjusting for effects of currency translation.35203 DCGB Umschlag Aussen.qxd 04.03.2004 09.29 Seite 1Moving PeopleAnnual Report 2003Annual Results Press ConferenceAnnual Report
6、PresentationFebruary 19,2004,10 a.m.Mercedes Event Center(MEC)SindelfingenAnalysts and InvestorsConference CallFebruary 19,2004,2:30 p.m.Annual MeetingApril 7,2004,10 a.m.Messe BerlinInterim Report Q1 2004April 29,2004Interim Report Q2 2004July 29,2004Interim Report Q3 2004October 28,2004Finance Cal
7、endar 2004DaimlerChrysler AGStuttgart,GermanyAuburn Hills,USAAnnual Report 2003DaimlerChryslerKey FiguresAmounts in millions171,87060,22929,90091,24480,36620,3978,3327,018 20,7807,1635640.551,913DaimlerChrysler Group136,43747,81223,73672,43363,79816,192362,0636,6145,571 16,4965,6864480.441,5191.5014
8、7,36845,89422,69586,44676,44515,028365,5717,1455,942 18,0166,8544,7184.681,5191.50150,38645,06823,98090,20279,60715,116372,4708,8965,848 15,944(1,318)(662)(0.66)1,0031.00-72+4+5-16-17+8-1-7-6-8-17-91-91+0+/-02002200103/0220032003US$1Change in%RevenuesEuropean Unionof which:GermanyNorth Americaof whi
9、ch:USAOther marketsEmployees(at year-end)Investments in property,plant and equipmentResearch and development expenditureCash provided by operating activitiesOperating profit(loss)Net income(loss)per share(in US$/)Total dividendDividend per share(in)1 Rate of exchange:1=US$1.2597(based on the noon bu
10、ying rate on Dec.31,2003).2 A 3%increase after adjusting for effects of currency translation.35203 DCGB Umschlag Aussen.qxd 04.03.2004 09.29 Seite 1Chrysler GroupCommercial VehiclesDivisionAlliance PartnersMercedes Car GroupStrategic PartnerConvenience with the interactive Annual Report.The inter-ac
11、tive Annual Report is the Internet counterpart of the printedversion.With a user-friendly navigation system and convenientadditional features,it offers all the information that the hard copycontains.Furthermore,the interactive Annual Report offersinteresting background information via links to other
12、 pages andvideos.Additional information on the Internet.Special information onour shares and earnings developments can be found in the“Investor Relations”section of our website.It includes the Groupsannual and interim reports,the company financial statements of DaimlerChrysler AG,and reports to the
13、US Securities andExchange Commission(SEC)for all the financial years since 1998.You can also find topical reports,presentations,an overview ofvarious performance measures,information on the share price,and other services.For example,you can register for a free e-mail service sending investor relatio
14、ns releases and announcingspecial welcome.online at https:/ Starting in March 2004,we now offer shareholders access to ourPersonal Internet Service all the year round.This extends ourInternet service connected with the Annual Meeting and enablesour shareholders to access their personal data in the s
15、hareregister.As before,you can order admission tickets for the Annual Meeting online,or authorize proxies and issue votinginstructions.In addition,you can now receive the documents forthe Annual Meeting by e-mail instead of by post,which is fasterand more environment friendly.Another feature of the
16、PersonalInternet Service is that shareholders can check their data in theshare register.If necessary,they can amend this data,changing anaddress,for example,or summarizing multiple entries in theregister under a single entry so that identical information is notsent to the same address several times
17、over.Your Personal Internet Service Unique Paperless Direct Convenient Environment friendlyhttps:/Divisions9%25%37%12%7%Percentage of SalesS-Class/SL/MaybachE-ClassC-Class/CLK/SLK/Sport CoupeA-ClassM-Class/G-Classsmart22%25%18%35%Passenger Cars48%42%6%Vans(incl.V-Class)Trucks/UnimogsBusesLight Truck
18、sMinivansSUVsPercentage of SalesPercentage of SalesAmounts in millionsMercedes Car Group200320032002US$Amounts in millionsChrysler Group200320032002US$Amounts in millionsCommercial Vehicles200320032002US$Amounts in millionsServices200320032002US$Amounts in millionsOther Activities200320032002US$03/0
19、2Change in%03/02Change in%03/02Change in%03/02Change in%03/02Change in%3,93864,8073,7023,3853,12651,4462,9392,6871,216,938104,1513,02050,1702,4952,7941,232,334101,778+4+3+18-4-1+2Operating profit RevenuesInvestments in property,plant and equipmentResearch and development expenditureUnit salesEmploye
20、es(Dec.31)(637)62,1303,1332,128(506)49,3212,4871,6892,637,86793,06260960,1813,1552,0622,822,65995,835.-18-21-18-7-3Operating profit(Loss)RevenuesInvestments in property,plant and equipmentResearch and development expenditureUnit salesEmployees(Dec.31)1,07735,9231,2671,27685528,5171,0061,013500,98195
21、,062(343)28,4011,263959485,40894,111.+0-20+6+3+1Operating profit(Loss)RevenuesInvestments in property,plant and equipmentResearch anddevelopment expenditureUnit salesEmployees(Dec.31)-59-11-20+53,06015,6999510,5211,24014,0377611,0351,56217,68296Operating profitRevenuesInvestments in property,plant a
22、nd equipmentEmployees(Dec.31)1,6195541522291,28544012118213,14490350813712721,184+42-13-12+43-38Operating profitRevenuesInvestments in property,plant and equipmentResearch and development expenditureEmployees(Dec.31)10%Our Automotive Brands at a glance35203 DCGB Umschlag Innen.qxd 04.03.2004 09.30 S
23、eite 1Chrysler GroupCommercial VehiclesDivisionAlliance PartnersMercedes Car GroupStrategic PartnerConvenience with the interactive Annual Report.The inter-active Annual Report is the Internet counterpart of the printedversion.With a user-friendly navigation system and convenientadditional features,
24、it offers all the information that the hard copycontains.Furthermore,the interactive Annual Report offersinteresting background information via links to other pages andvideos.Additional information on the Internet.Special information onour shares and earnings developments can be found in the“Investo
25、r Relations”section of our website.It includes the Groupsannual and interim reports,the company financial statements of DaimlerChrysler AG,and reports to the US Securities andExchange Commission(SEC)for all the financial years since 1998.You can also find topical reports,presentations,an overview of
26、various performance measures,information on the share price,and other services.For example,you can register for a free e-mail service sending investor relations releases and announcingspecial welcome.online at https:/ Starting in March 2004,we now offer shareholders access to ourPersonal Internet Se
27、rvice all the year round.This extends ourInternet service connected with the Annual Meeting and enablesour shareholders to access their personal data in the shareregister.As before,you can order admission tickets for the Annual Meeting online,or authorize proxies and issue votinginstructions.In addi
28、tion,you can now receive the documents forthe Annual Meeting by e-mail instead of by post,which is fasterand more environment friendly.Another feature of the PersonalInternet Service is that shareholders can check their data in theshare register.If necessary,they can amend this data,changing anaddre
29、ss,for example,or summarizing multiple entries in theregister under a single entry so that identical information is notsent to the same address several times over.Your Personal Internet Service Unique Paperless Direct Convenient Environment friendlyhttps:/Divisions9%25%37%12%7%Percentage of SalesS-C
30、lass/SL/MaybachE-ClassC-Class/CLK/SLK/Sport CoupeA-ClassM-Class/G-Classsmart22%25%18%35%Passenger Cars48%42%6%Vans(incl.V-Class)Trucks/UnimogsBusesLight TrucksMinivansSUVsPercentage of SalesPercentage of SalesAmounts in millionsMercedes Car Group200320032002US$Amounts in millionsChrysler Group200320
31、032002US$Amounts in millionsCommercial Vehicles200320032002US$Amounts in millionsServices200320032002US$Amounts in millionsOther Activities200320032002US$03/02Change in%03/02Change in%03/02Change in%03/02Change in%03/02Change in%3,93864,8073,7023,3853,12651,4462,9392,6871,216,938104,1513,02050,1702,
32、4952,7941,232,334101,778+4+3+18-4-1+2Operating profit RevenuesInvestments in property,plant and equipmentResearch and development expenditureUnit salesEmployees(Dec.31)(637)62,1303,1332,128(506)49,3212,4871,6892,637,86793,06260960,1813,1552,0622,822,65995,835.-18-21-18-7-3Operating profit(Loss)Reven
33、uesInvestments in property,plant and equipmentResearch and development expenditureUnit salesEmployees(Dec.31)1,07735,9231,2671,27685528,5171,0061,013500,98195,062(343)28,4011,263959485,40894,111.+0-20+6+3+1Operating profit(Loss)RevenuesInvestments in property,plant and equipmentResearch anddevelopme
34、nt expenditureUnit salesEmployees(Dec.31)-59-11-20+53,06015,6999510,5211,24014,0377611,0351,56217,68296Operating profitRevenuesInvestments in property,plant and equipmentEmployees(Dec.31)1,6195541522291,28544012118213,14490350813712721,184+42-13-12+43-38Operating profitRevenuesInvestments in propert
35、y,plant and equipmentResearch and development expenditureEmployees(Dec.31)10%Our Automotive Brands at a glance35203 DCGB Umschlag Innen.qxd 04.03.2004 09.30 Seite 1DaimlerChrysler is unique in the automotive industry:Our product portfolio ranges from small cars to sports cars and luxurysedans;and fr
36、om versatile vans to heavy duty trucks or comfortable coaches.We are extremely well positioned worldwide with our strong passenger-car and commercial-vehicle brands,and have products in nearly every market and market segment.We aim to convince our customers with our exciting automobiles,attractive a
37、nd economical commercial vehicles,and tailored financial services.With our innovative technology,we intend to make the traffic of tomorrow even safer,as well as more economical and environmentfriendly.And by implementing this strategy,we intend to create lasting value for our shareholders.To these e
38、nds we focus our global resources and the knowledge,experience and energy of our employees.35203 DCGB_E_001-001.qxd 28.02.2004 10.31 Seite 1Contents|Essentials|Moving People|Divisions|Cross-divisional Functions|Corporate Governance|Financial Reporting|Additional InformationEssentialsContentsCorporat
39、e GovernanceFinancial ReportingAdditional InformationDivisionsMoving PeopleCross-divisional Functions35203 DCGB_E_002-003.qxd 03.03.2004 16.07 Seite 24Chairmans Letter8Board of Management10Business Review172Major Subsidiaries174Eight-Year Summary175International Representative Offices176Addresses/Ad
40、ditional InformationInternet ServiceFinance Calendar 200490Overview92Analysis of the Financial Situation108Statement by the Board of Management109Independent Auditors Report110Consolidated Financial Statements14Outlook18DaimlerChrysler Shares20DaimlerChrysler Worldwide82Members of the Supervisory Bo
41、ard83Report of the Supervisory Board86Corporate Governance at DaimlerChrysler66Substainability and Social Responsibility68Research and Technology70Alternative Drive Systems and Fuels72DaimlerChrysler and the Environment 74Global Procurement and Supply76DaimlerChryslers Social Responsibility78Human R
42、esources46Mercedes Car Group50Chrysler Group 54Commercial Vehicles58Executive Automotive Committee60Services62Other Activities22Moving People35203 DCGB_E_002-003.qxd 03.03.2004 16.07 Seite 3Essentials|Chairmans Letter|Board of Management|Business Review|Outlook|DaimlerChrysler Shares|DaimlerChrysler
43、 WorldwideFor the global economy and for our company the 2003 financial year was split into two verydifferent halves.The conflict in Iraq,the fear of the spread of terrorism and the lack ofpositive sentiment in most markets meant that the downward trend of the two previousyears continued in the firs
44、t half of 2003.This led to competition becoming even tougher in our sales markets.Particularly in theUnited States the price war escalated the average customer incentive per vehicleexceeded US$4,000 for the first time.Chrysler Group,naturally,also suffered from thisincrease:in the second quarter it
45、had to report an operating loss after five quarters with positive results from ongoing business in succession.A moderate recovery of the global economy commenced in the second half of the year.Customer incentives in the US market stopped rising.Due to additional efficiencyincreases and successful pr
46、oduct launches,the Chrysler Group returned to profit in thethird and fourth quarters,and came very close to its full-year goal of breaking even from ongoing business.The other divisions achieved very good results in 2003:The Mercedes Car Group reported record earnings for the sixth time in a row.Mer
47、cedes-Benz generally strengthened its market position and is still the worlds mostsuccessful premium brand.It is very difficult to get to the top.But staying on top for such a long time demonstrates that we have the ability and the will to achievecontinuous improvement in all areas.The Commercial Ve
48、hicles division made great progress last year,and again postedsubstantial profits.It extended its position as the worlds market leader.This was theresult of thorough and effective work.DaimlerChrysler Services achieved its best earnings ever from ongoing business.In addition,we moved forward with th
49、e implementation of our strategy:We strengthened our global presence:in Japan,with our stake in FUSO,the market leader for commercial vehicles;and in China,through a far-reaching frameworkagreement with our long-standing partner,BAIC.We transformed smart into a multi-product brand.We had successful
50、market launches of tremendous products such as the Mercedes-BenzCLK convertible,the Dodge Durango or the new Actros.35203 DCGB_E_004-007.qxd 28.02.2004 10.41 Seite 4|54 We also proved our leadership in terms of innovation and technology last year.The prizewinning PRE-SAFE safety package of the new S
51、-Class is just one example of our expertise in this field.And the balance sheet of your company became even stronger:both net liquidity and theequity ratio increased.With an operating profit at Group level of 5.1 billion,excluding the effects fromrestructuring the Chrysler Group and from the sale of
52、 MTU Aero Engines,we achieved thegoal we set ourselves for the year.This is the result of the commitment as well as hardwork of more than 360,000 DaimlerChrysler employees,and my thanks goes to each ofthem for their individual efforts.At the Annual Meeting in April we will propose that an unchanged
53、dividend of 1.50 pershare should be distributed.This proposal takes into consideration both the developmentof operating profit and cash flow in 2003,and the outlook for the following years.There is reason to look forward with confidence.With its second product offensive,the Mercedes Car Group will n
54、ot only continue to renew its model range in the years to come,but will also substantially broaden it.It aimsto increase its earnings significantly by the year 2006.The Chrysler Group is about to start an unprecedented series of product launchesinvolving 25 new models in the next three years nine be
55、fore the end of this year alone.The Chrysler Groups workforce has proved that it has costs and quality under control.We are now going on the offensive with an impressive product range.The Commercial Vehicles division achieved its turnaround.We found the way tosustained profitability and will continu
56、e along this path.And we are striving to further increase our margins at DaimlerChrysler Services forexample,by setting up a new sales structure in the United States and by improving risk-management processes.Dear shareholders,one often reads that besides unique brands,fascinating products and flexi
57、ble processes size also provides one decisive competitive advantage in theautomotive business.This is only partly true.Because size measured purely in terms ofunits produced has to be converted into effective economies of scale.35203 DCGB_E_004-007.qxd 28.02.2004 10.41 Seite 5Essentials|Chairmans Le
58、tter|Board of Management|Business Review|Outlook|DaimlerChrysler Shares|DaimlerChrysler WorldwideThis is exactly what we are doing through our Executive Automotive Committee,thecentral steering committee for our worldwide automotive business.And the EAC hasalready achieved a great deal.Our long-rang
59、e plans for products and components are being implemented.At present,we are preparing a long-range plan aimed at standardizing production processes,so thatquality can be enhanced while costs are reduced.In addition,throughout the Group,we standardize large numbers of parts and componentsand use them
60、 in our vehicles without the risk of brand dilution.Another focus of the EAC is China,the market with the most dynamic growth rates in theworld.In future we will also produce Mercedes-Benz C-Class and E-Class sedans in China.Furthermore,we plan far-reaching activities for commercial vehicles and fin
61、ancialservices in that country.Ours is a holistic approach to business:With activities in about 200 countries;With products ranging from small cars to 40-ton trucks;With a portfolio of attractive and exciting brands;Backed by our 115 years of expertise in automobile manufacture.For us,a holistic app
62、roach demands that we always do what is necessary to compete inthe short-term while also maintaining long-term competitiveness.That is why we are investing 38 billion over the next three years to secureDaimlerChryslers future success.That is why we will place around 50 exciting newproducts on the ro
63、ad during the same period.We have the resources to further develop our business notwithstanding all of theindisputable operative challenges with which we are presently faced.Of course,we have not yet achieved all of our targets.When we measure DaimlerChryslerslevel of development to date against our
64、 own high expectations,we cannot be satisfied.We are not yet Number One in the automobile business.The same applies to our share price.The year 2003 marked the low point of a three-year decline in equity prices.We were onlypartially able to avoid this trend and I would like to thank you,the sharehol
65、ders,for your trustand patience during this difficult time.For 2004,we expect a return to more favorable prospects for economic growth.This pattern should also provide positive stimulus for automotive demand.35203 DCGB_E_004-007.qxd 28.02.2004 10.41 Seite 6|76We will make good use of this stimulus,b
66、ecause all of our divisions are already on theright track.And I am therefore confident that your company stands at the beginning of a lastingupward trend one that should also be reflected in our share price.Ladies and gentlemen,I would like to invite you to read the following pages for a detailedacc
67、ount of DaimlerChryslers business developments in 2003.Our Annual Report also aims to update you on efforts directed at sustainability,as well as our environmentalinitiatives and extensive activities in the field of social responsibility.Examples such as our social initiatives in the battle against
68、HIV/AIDS,securing the safety of street children,and protecting the Brazilian rainforest,show that DaimlerChryslertakes the long view on a variety of issues.How do our business prospects look?Compared with earnings in 2003 from ongoing business which exclude the effects fromthe restructuring of the C
69、hrysler Group and the profit from the sale of MTU Aero Engines DaimlerChrysler strives to achieve a slight improvement in operating profit for the year2004.However,we anticipate significant improvements in earnings for the years 2005 and 2006,when all of the new vehicles from our divisions product o
70、ffensives will be fully available.My colleagues on the Board of Management and I will make every effort to ensure thatyour company makes further progress.We would be delighted if you continued to accompanyus along this path.Sincerely yours,35203 DCGB_E_004-007.qxd 28.02.2004 10.41 Seite 7Essentials|
71、Chairmans Letter|Board of Management|Business Review|Outlook|DaimlerChrysler Shares|DaimlerChrysler WorldwideJrgen E.Schrempp(59)Chairman of the Board of ManagementAppointed until 04/2005Gnther Fleig(55)Human Resources&Labor Relations DirectorAppointed until 09/2009Bodo Uebber(44)ServicesDeputy Memb
72、er of the Board of ManagementAppointed until 12/2006Manfred Gentz(62)Finance&ControllingAppointed until 12/2004Thomas Weber(49)Research&TechnologyDeputy Member of the Board of ManagementAppointed until 12/2005Rdiger Grube(52)Corporate DevelopmentAppointed until 09/2007Gary C.Valade (61)Global Procur
73、ement&SupplyRetired from the Board of Management on December 16,2003Board of Management35203 DCGB_E_008-009.qxd 05.03.2004 08.44 Seite 8|98Wolfgang Bernhard(43)Chief Operating OfficerChrysler GroupAppointed until 09/2007Manfred Bischoff(61)Aerospace&Industrial BusinessesRetired from the Board of Man
74、agement on December 16,2003Jrgen Hubbert(64)Mercedes Car Group Appointed until 04/2005Eckhard Cordes(53)Commercial VehiclesAppointed until 12/2008Klaus Mangold(60)ServicesRetired from the Board of Management on December 16,2003Dieter Zetsche(50)Chrysler GroupAppointed until 12/2008Thomas W.Sidlik(54
75、)Global Procurement&Supply Appointed until 12/200835203 DCGB_E_008-009.qxd 05.03.2004 08.44 Seite 9Business ReviewThe Services division once again improved its operating profit fromits ongoing business,helped by higher interest-rate margins andfavorable refinancing conditions.However,charges of 241
76、millionresulted from the delayed introduction of the electronic toll systemfor trucks on German highways(Toll Collect).Operating profitamounted to 1.2 billion(2002:3.1 billion).The operating profit ofthe prior year included a gain of 2.5 billion from the sale of the49.9%share in T-Systems ITS and ot
77、her special expenses totaling0.4 billion.In 2003,the Other Activities segments contribution to earningsincreased to 1.3 billion(2002:0.9 billion).This figure includedincome of 1.0 billion from the sale of the MTU Aero Enginesbusiness unit at the end of 2003.The operating profit of the prioryear incl
78、uded a gain of 0.2 billion from the sale of our 40%interest in Conti Temic microelectronic.Due to the difficult situationin North America and rising expenditures for credit risks andresidual-value risks in the financial services business,the contributionto earnings from Mitsubishi Motors Corporation
79、(MMC)wasnegative,whereas EADS and MTU Aero Engines once again achievedpositive contributions to the Groups operating profit.Net income amounted to 0.4 billion(2002:4.7 billion).Theprimary causes for the decrease were the lower operating profit andthe impairment charge of 2.0 billion related to our h
80、olding inEADS,which was recognized at the end of the third quarter 2003according to the requirements of US GAAP and the US Securitiesand Exchange Commission(SEC).The sale of MTU Aero Enginesresulted in a gain,which increased net income by 0.9 billion in2003.Earnings for the prior year included posit
81、ive special effectstotaling 1.4 billion,due to various special expenses and income,particularly from the sale of the Groups 49.9%share in T-SystemsITS.Earnings per share amounted to 0.44(2002:4.68).Group operating profit 5.7 billion|Worldwide unit sales of 4.3 million vehicles(2002:4.5 million)|Merc
82、edes Car Group exceeded high level of earnings of previous year|Burden on earnings atChrysler Group|Significantly higher earnings at Commercial Vehicles and Services|Net incomeof 0.4 billion(2002:4.7 billion)affected by impairment of investment in EADS|Proposeddividend of 1.50 per share(2002:1.50)Es
83、sentials|Chairmans Letter|Board of Management|Business Review|Outlook|DaimlerChrysler Shares|DaimlerChrysler WorldwideEarnings trend affected by difficult market situation.In 2003,DaimlerChrysler achieved an operating profit of 5.7 billion in adifficult market environment(2002:6.9 billion).This resu
84、ltincluded restructuring expenditures related to the turnaround planat Chrysler Group totaling 469 million.Group operating profit in2003 also included a positive special effect of 1.0 billion from the sale of the MTU Aero Engines business unit.In 2002,operatingprofit included special effects in a ne
85、t positive amount of 1.0billion.After adjusting to exclude the aforementioned effects,Daimler-Chrysler achieved its goal for 2003 of generating earnings of some5 billion.The decrease in the Groups operating profit from itsongoing businesses was primarily due to Chrysler Groups slightlynegative resul
86、t and the negative contribution from our investmentin Mitsubishi Motors Corporation.With an operating profit of 3.1 billion,Mercedes Car Groupimproved on its strong result of the prior year(3.0 billion),despitehigh expenditures for its second model offensive.The Chrysler Group incurred an operating
87、loss of 506 million(2002:operating profit of 0.6 billion)in 2003.The result includedrestructuring expenditures of 469 million(2002:0.7 billion).The Chrysler Group thus nearly attained its goal of breaking evenwith its ongoing business.The main reasons for the lowerprofitability from its ongoing busi
88、ness were the lower unit sales andsignificantly higher customer incentives due to the difficult marketin the United States.Commercial Vehicles achieved an operating profit of 855 millionin 2003(2002:operating loss of 0.3 billion including specialexpenditures of 0.5 billion).This strong improvement,d
89、espite thefact that markets remained challenging,was primarily due to theconsistent realization of efficiency-boosting programs at all of thedivisions business units.35203 DCGB_E_010-013.qxd 02.03.2004 9:06 Uhr Seite 10Dividend of 1.50 per share.The Board of Management and theSupervisory Board will
90、propose to shareholders at the AnnualMeeting that a dividend of 1.50 per share should be distributedfor the year 2003(2002:1.50).The total dividend distributionwould therefore amount to 1,519 million(2002:1,519 million).This proposal takes account not only of the development ofoperating profit and c
91、ash flow in 2003,but also of our expectationsfor the coming years,which are based on the large number of new products to be launched and a gradual acceleration of economicgrowth in our major markets of the world.Unsatisfactory growth for global economy.The global economysunusually long weak phase,in
92、cluding a significant downturn incompanies capital expenditure and ongoing uncertainty amongboth consumers and investors,continued into 2003.The mainnegative factors in the first half of the year were the war in Iraq andthe lung disease,SARS.However,in the second half of the year,a moderate recovery
93、 of the world economy became apparent.Economic growth in the United States accelerated considerablyduring the year.Japans economy also improved.However,economic developments in Western Europe were disappointing.Whereas growth in Eastern Europe and in some of Asias emergingmarkets was above average,t
94、here was stagnation in South America.Weighted for each countrys share of the Groups revenues,economic expansion of 2.3%in the markets in which Daimler-Chrysler operates was better than the prior years 2.0%,but was still well below the long-term trend of around 3%.During the course of the year,the eu
95、ro appreciated in value by 20%against the US dollar,by 8%against the British pound andby 9%against the Japanese yen.Lack of stimulus in worldwide demand for automobiles in 2003.Worldwide market conditions in the automotive industry wereextremely difficult for both passenger cars and commercial vehic
96、lesin 2003.Competition intensified due primarily to weak demand in various major markets and the associated further reductions incapacity utilization.|1110In millions 20035,6863,126(506)8551,2401,2856,8543,020609(343)3,0609032002Operating Profit(Loss)In millions2003136,43751,446 49,32128,51714,03744
97、0147,36850,17060,18128,40115,6995082002Revenues2003US$2003US$7,1633,938(637)1,0771,5621,619171,87064,807 62,13035,92317,682554Note:With reporting for the year 2003,DaimlerChrysler has departed from its previous practice ofpresenting earnings with and without one-time effects;only one figure is repor
98、ted for operatingprofit,net income and earnings per share.In order to ensure comparability,a reference is made to the one-time effects included in the prior years figures.DaimlerChrysler is following the new rules adopted by the Securities and Exchange Commission(SEC),which apply to the 2003 financi
99、al year and require reporting of“one-time effects”much more restrictively.DaimlerChrysler GroupMercedes Car GroupChrysler GroupCommercial VehiclesServicesOther ActivitiesDaimlerChrysler Group 1Mercedes Car GroupChrysler GroupCommercial VehiclesServicesOther Activities 11 Excluding MTU Aero EnginesCo
100、nsolidated Revenues25507510012515017520032002200120001999Other marketsUSAEuropean Unionin billions of The Maybach 57 on Hibiscus Island,Florida35203 DCGB_E_010-013.qxd 28.02.2004 10.44 Seite 11Essentials|Chairmans Letter|Board of Management|Business Review|Outlook|DaimlerChrysler Shares|DaimlerChrys
101、ler WorldwideDespite a renewed sharp increase in customer incentives,the USautomobile market contracted slightly to 17.0 million vehicles(2002:17.1 million).With total sales of 14.3 million vehicles(2002:14.5 million),the passenger-car markets of Western Europe werealso unable to stimulate global de
102、mand due to the regions generallyweak economy.Whereas the markets of South America recoveredonly gradually from their crisis of the prior year,the countries ofCentral and Eastern Europe and above all,the emerging markets ofAsia led by China experienced market growth,in some cases of a significant ma
103、gnitude.After the sometimes dramatic market slumps of recent years,demand for commercial vehicles stabilized worldwide in 2003,but ata low level.In North America,unit sales of heavy and medium-dutytrucks did not quite match the level of 2002,and in Western Europenew registrations were again slightly
104、 below the prior-year levels.In Japan,purchases brought forward due to forthcoming stricteremission laws for metropolitan areas led to a significant boost indemand.Unit sales of 4.3 million vehicles.Reflecting weak demand inmajor markets,DaimlerChrysler sold 4.3 million passenger cars andcommercial
105、vehicles in 2003(2002:4.5 million)but did not reachthe high level of previous year.The Mercedes Car Group division performed very well underdifficult conditions.Unit sales of 1.2 million vehicles almost reachedthe high level of the previous year.The division strengthened itsleading position in the p
106、remium segment worldwide(see pages 46 ff).The Chrysler Group sold 2.6 million vehicles of the Chrysler,Jeepand Dodge brands in 2003.Increasingly tough competitionwas the key factor behind the 7%decrease(see pages 50 ff).Despite the continuation of difficult market conditions,theCommercial Vehicles d
107、ivision sold 501,000 trucks,vans and busesin 2003(2002:485,400)and thus exceeded previous years levelby 3%(see pages 54 ff).Group revenues of 136.4 billion(2002:147.4 billion).Due to the lower level of unit sales and the appreciation of the euroagainst the US dollar,total revenues decreased by 7%to
108、136.4billion in 2003.Adjusted to exclude currency translation effects,revenues were 3%higher than in the prior year.Whereas Mercedes Car Group again increased its revenues thanksto a more advantageous model mix,revenues at Chrysler Groupdecreased significantly as a result of market and currency-tran
109、slationeffects.Despite significant negative effects from currencytranslation,the revenues generated by the Commercial Vehiclesdivision were just above the prior-year level.The fact that theServices divisions revenues were lower than in 2002 was due tothe appreciation of the euro against the dollar.I
110、n regional terms,DaimlerChryslers revenues generated in theEuropean Union increased by 4%to 47.8 billion.In the NAFTAregion,revenues decreased by 16%to 72.4 billion,mainly due tothe lower unit sales of the Chrysler Group;adjusted for currencytranslation effects,there was a much lower reduction of 2%
111、.Revenues generated in the rest of the world rose by 8%to 16.2billion.362,063 employees.At the end of 2003,DaimlerChrysleremployed 362,063 people(end of 2002:365,571).Compared withthe prior year,the number of employees increased slightly atMercedes Car Group,Commercial Vehicles and Services,while th
112、e Chrysler Groups workforce decreased as a result of itsrestructuring activities.The sale and deconsolidation of the MTUAero Engines business unit at the end of 2003 resulted in adecrease of about 8,400 employees at the Group.(See pages 78 f).Optimized procurement processes.In 2003,we gave ourprocur
113、ement processes even more international reach.Furthermore,we prepared a list of measures to be taken in close collaborationwith our suppliers with the aim of achieving continuous improvementsin quality.Worldwide,DaimlerChrysler purchased goods andservices worth 99.7 billion in 2003(2002:102.1billion
114、).Of thistotal,40%was accounted for by Mercedes Car Group,34%by the Chrysler Group,23%by Commercial Vehicles and 3%by otherunits.(See pages 74 f).12.2 billion invested in the future.Last year,DaimlerChryslerinvested 6.6 billion in property,plant and equipment(2002:7.1 billion)and 5.6 billion in rese
115、arch and development(2002:5.9 billion).Major investments were made by Mercedes CarGroup to extend the Rastatt and Tuscaloosa plants for the productionof the new A-Class and M-Class series,and to prepare for theproduction of the new smart forfour.The main investments for the Chrysler,Jeepand Dodge br
116、ands involved modifying theplant in Newark for the production of the new Dodge Durango,and expenditures for the nine new models in 2004.35203 DCGB_E_010-013.qxd 02.03.2004 9:06 Uhr Seite 12Important projects for the Commercial Vehicles division were thenew Viano/Vito van family,the successor to the
117、Sprinter and anew school bus for the US market.26,700 people were employedin our research and development departments at the end of 2003.(See pages 68 f).Concentration on automotive business.Our strategy ofconcentrating on the automotive business and related services was continued in 2003.Effective
118、December 31,2003,DaimlerChrysler sold the enginemanufacturer MTU Aero Engines to the financial investor Kohlberg,Kravis and Roberts&Co.Ltd.(KKR).Furthermore,DaimlerChrysler and ThyssenKrupp Automotiveagreed in November 2003 that ThyssenKrupp Automotive wouldinitially acquire 60%of Mercedes-Benz Lenk
119、ungen GmbH(a producer of steering components)and the remaining 40%after a period of at least two years.Further development of strategic partnerships in Asia.In March2003,DaimlerChrysler acquired for 764 million a direct holding of 43%in Mitsubishi Fuso Truck and Bus Corporation(MFTBC),whichhad been
120、spun off from Mitsubishi Motors Corporation(MMC)inJanuary 2003.MFTBC is Japans market leader in commercialvehicles with a market share of about 30%,and also has a strongpresence in the countries of South East Asia.By expanding itspresence in Asia,our Commercial Vehicles division is implementingits s
121、trategy of profiting from its significant scale and will furtherextend its position as a global market leader.In January 2004,weagreed with our partners from the Mitsubishi Group that Daimler-Chrysler would acquire another 22%of the shares in MFTBC.In September 2003,DaimlerChrysler AG and Beijing Au
122、tomotiveIndustry Holding Company Ltd.(BAIC)signed a pioneering newframework agreement.This agreement covers the restructuring of theexisting joint venture,increased investment and the production of Mercedes-Benz C-Class and E-Class passenger cars.In addition,the framework agreement covers cooperatio
123、n betweenDaimlerChrysler and Beiqi Foton,in which BAIC is the main share-holder,on the production of heavy and medium-duty trucks(including the Mercedes-Benz Actros range)as well as engines and additional components for the Chinese market.In December 2003,the Chinese State Development and ReformComm
124、ission approved an application to establish a joint venturebetween DaimlerChrysler,the Taiwanese China Motor Corporationand the Chinese Fujian Motor Industry Group.This joint ventureplans to produce the Mercedes-Benz Sprinter and the new Viano/Vito van family in an all-new plant with an annual capac
125、ity of40,000 units in Fuzhou City in the province of Fujian,starting atthe end of 2005.|1312In millions20036,6142,939 2,4871,006761217,1452,4953,1551,263951372002Investments in Property,Plant and EquipmentIn millions20035,5712,687 1,6891,0131825,9422,7942,0629591272002Research and Development Expend
126、iture2003US$2003US$8,3323,702 3,1331,267961527,0183,385 2,1281,276229DaimlerChrysler GroupMercedes Car GroupChrysler GroupCommercial VehiclesServicesOther ActivitiesDaimlerChrysler Group 1Mercedes Car GroupChrysler GroupCommercial VehiclesOther Activities11 Excluding MTU Aero Engines.The JeepLiberty
127、 in the Everglades35203 DCGB_E_010-013.qxd 28.02.2004 10.44 Seite 13OutlookIn the field of commercial vehicles the major markets of NorthAmerica and Western Europe appear to have bottomed out.Theexpected economic revival with growing investment activity shouldtrigger a gradual increase in unit sales
128、 in these markets.However,in Japan the purchases brought forward in the year 2003,due tonew emission regulations,will reduce growth prospects in thatcountry.In the next few years,expansion in global demand for both carsand commercial vehicles will primarily take place in the emergingmarkets of Asia
129、and South America and probably also in EasternEurope,due to these regions dynamic growth in purchasing powerand rising need for mobility.International competition will beexacerbated by the limited scope for expansion of the large auto-mobile markets of North America,Western Europe and Japan,incombin
130、ation with shorter product lifecycles and high productioncapacity worldwide.Additional factors are stricter environment andsafety regulations,the fulfillment of which will increase costs for allmanufacturers.Against this background,such advantages as theability to differentiate oneself from the comp
131、etition by means ofinnovation and strong brands,presence in the growth markets ofAsia and the opportunity to exploit economies of scale willcontinue to gain importance.Competitiveness and efficiency to improve further in all divisions|Mercedes Car Group to renew andexpand its product range with seco
132、nd model offensive|Chrysler Group to launch nine new models in2004|Commercial Vehicles division on track for solid growth|Increasing sales support throughfinancial services|Total investments of 38billion by the end of 2006 to enhance competitiveness|High expenditures for new products in 2004 with si
133、gnificantly improved earnings from 2005 Essentials|Chairmans Letter|Board of Management|Business Review|Outlook|DaimlerChrysler Shares|DaimlerChrysler WorldwideProspects for economic growth improve again.The prospectsfor growth of the world economy have gradually improved since themiddle of 2003,wit
134、h the main impetus coming from North Americaand emerging markets.The US economy in particular is expectedto grow substantially in 2004.The outlook for the economies ofWestern Europe can also be viewed more positively,but due to theslow recovery of demand in Germany,growth is expected to remainrather
135、 modest at first and is unlikely to accelerate before the year2005.In Japan,mid-term expectations are subdued despitesurprisingly positive developments in 2003.Now that South America has overcome its economic crisis andAsia and Eastern Europe are developing positively,emerging mar-kets should start
136、to provide some useful stimulus again in 2004.Overall,we expect the world economy to expand by just over 3%in2004 and thereafter.We assume that the euro will tend to appreciate slightly againstmajor currencies compared with average exchange rates in 2003.Moderate rise in global demand for automobile
137、s.Favorableeconomic developments should result in more buoyant demand forcars.Although we expect the tough competitive situation in NorthAmerica to continue in the year 2004,the market for passengercars and light trucks is expected to expand a little.In WesternEurope,market growth will probably comm
138、ence some time during2004 in parallel with overall economic developments but,as inJapan,will not be as strong as in most other regions of the world.35203 DCGB_E_014-017.qxd 02.03.2004 9:07 Uhr Seite 14Further growth for Mercedes Car Group.In the next few years,Mercedes Car Groups second model offens
139、ive will not only renewits product range,it will also broaden it substantially.The goal is tosignificantly increase unit sales,revenues and operating profit by2006,and to further strengthen the market position of theMercedes-Benz and smart brands.We intend to achieve this withnumerous new models to
140、be launched in the years 2004 through2006.The new Mercedes-Benz models include a new SLK roadster,new A-Class models,a new four-door CLS coupe,a new M-Class,the Grand Sports Tourer and the new S-Class.The smart productrange will be extended in April 2004 with the new four-seatersmart forfour,and in
141、2006 with the compact SUV smart formore tobe produced in Brazil.In addition,Mercedes Car Group will increaseits drive to leverage the market potential offered by Asia in thefuture.We plan to selectively expand our activities in China and tocontinue strengthening our sales organizations in Asian mark
142、ets.Chrysler Group to launch numerous new products.TheChrysler Group expects that the US market for passenger cars andlight trucks will continue to be extremely competitive.In addition tofurther efficiency improvements,the Chrysler Groups strategicfocus will therefore increasingly be on achieving a
143、sustainedimprovement in competitiveness through attractive,innovative newproducts with more appeal than their rivals.Nine new models willbe launched in 2004 and a total of 25 in 2004 through 2006.Withthese new vehicles,the Chrysler Group intends to rank alongsidethe best in the world in terms of pro
144、duct quality and the efficiencyof production processes,while setting itself apart from thecompetition with its product designs and attractive value.Thisstrategy is expected to result in rising earnings contributionsstarting in 2004,despite higher expenditures for the introductionof new products.Furt
145、her earnings improvement for Commercial Vehicles.Withthe reorganization of its worldwide truck business effective January 1,2004,the Commercial Vehicles division has created astructural basis for the implementation of its“Global Spark”strategic initiative.This initiative calls for the continuation o
146、f theprograms for efficiency improvements that are already runningsuccessfully in all of the divisions business units.In addition,thedivision intends to utilize more consistently than in the past the|1514The Mercedes-Benz Actros in the Alps near Bozeneconomies of scale arising from its position as t
147、he worlds largestmanufacturer of commercial vehicles,and thus achieve costadvantages over the competition.Some concrete examples are thestandardization of components and system modules such asengines and electronics.Another aim is to strengthen the divisionsmarket position in Asia in general and in
148、China in particular,incollaboration with our Asian partners(see page 56 f).In addition tothis strategic initiative,the division will push forward its productoffensive with new models,new components and pioneeringtechnologies to raise safety and environmental standards.Overall,the division is therefo
149、re very well prepared to further strengthen itsmarket position worldwide in the coming years while continuouslyimproving its profitability.Increasing sales support from financial services.The Servicesdivision will continue to focus on automotive financial services.Inthis way,unit sales of the Groups
150、 brands will be promoted whilemaintaining the high profitability of the financial services business.In cooperation with the sales organizations of the automotivebrands,additional tailored financial services offers will be createdwhich will be adapted to each brands specific requirements andmarkets.A
151、t the same time,the systems and processes in use willbe continuously improved,thus enhancing risk management inparticular,as well as other key processes.We see growthopportunities in fleet management and in the markets of EasternEurope after EU enlargement.Furthermore,we are preparing tofurther expa
152、nd our services activities in Asia.The Toll Collect consortium partners have presented a plan forthe full-scale start of the truck toll system in Germany byDecember 31,2005 at the latest.According to the consortiumsoffer,however,the system will also be able to start with restrictedfunctionality on D
153、ecember 31,2004.DaimlerChrysler Services has a 45%share of the Toll Collect consortium.At the time whenthe DaimlerChrysler Groups Management Report was finalized,it was not yet possible to foresee whether and under whichconditions an agreement could be reached between the consor-tium and the Federal
154、 Republic of Germany.The stage of negotia-tions on February 17,2004 did not exclude the possibility of thecontract being terminated.35203 DCGB_E_014-017.qxd 28.02.2004 10.45 Seite 15Essentials|Chairmans Letter|Board of Management|Business Review|Outlook|DaimlerChrysler Shares|DaimlerChrysler Worldwi
155、deMitsubishi Motors:Further cost reductions and new productsfrom 2005.Business developments at Mitsubishi Motors(MMC)inits 2003/04 financial year are overshadowed by continuing losses.This necessitates a repeated thorough revision of the existing mid-term planning and restructuring activities at MMC
156、,which togethershould lead to a sustained improvement in its operating result and balance-sheet structure.However,a significant improvementin profitability is unlikely to be achieved before the launch of newmodels in 2005 and 2006.Mitsubishi will be able to realizesubstantial cost advantages with th
157、ese vehicles through its colla-boration with DaimlerChrysler.Further economies of scale are tobe realized through a“World Engine”project shared by MitsubishiMotors,Chrysler Group and Hyundai Motor,with a planned totalvolume of more than 1.5 million 4-cylinder gasoline engines eachyear.Mitsubishi Mot
158、ors plans to significantly expand its successfuloperations in China in cooperation with DaimlerChrysler.Forexample,in addition to the Pajero sport utility vehicle,from 2004the Outlander SUV will also be produced in China,with more new models to follow.Overall,Mitsubishi Motors will significantlyexpa
159、nd local vehicle production and will expand its output ofengines in China.Recovery in sight for airline industry.The airline industry is still affected by the general economic weakness.A recovery isexpected starting in the year 2005.Nonetheless,EADS plans to increase its operating earnings in2004 by
160、 about 20%compared with the prior year.After a cautiousassessment of its order backlog,Airbus expects to deliver nearly300 aircraft this year.Conservative planning of delivery datesensures that EADS has the required flexibility to react tounforeseen events and the risks involved in customer financin
161、g.On the basis of EADS high order volume in the defense business,its revenues in this segment will continue to grow in the comingyears.There will be significant contributions from the A400Mmilitary transport aircraft,the Tiger and NH90 helicopters,theEurofighter and guided-missile programs.Due to th
162、e expected recovery of the space business and therestructuring of the Space division,EADS assumes it will achievebreakeven in terms of operating profit in this area in 2004.In the medium term,EADS plans to increase its revenues to morethan 40 billion.Revenues expected to increase significantly.Given
163、 a generallymore favorable market environment,on a comparable basis weexpect DaimlerChryslers revenues in 2004 to be somewhat higherthan in 2003.The appreciaton of the euro against the US dollarcompared with the average exchange rate in 2003 that we assumein our operative planning should lead to neg
164、ative currency-translations effects.As a result of the anticipated improvement in market conditionsand the introduction of numerous new and high-value models,we assume that revenues will rise significantly in the years 2005and 2006.Positive contributions are anticipated from all of thedivisions.We e
165、xpect the highest growth rates to be recorded in theemerging markets of Asia.Significantly better earnings prospects for DaimlerChrysler inthe long term.DaimlerChrysler assumes that markets will remainintensely competitive in 2004.Based on the expectations of ourdivisions and of EADS and MMC(which a
166、re both consolidated inthe Group at equity),DaimlerChrysler is striving to achieve a slightincrease in operating profit in 2004 compared to the resultsachieved in 2003(excluding restructuring expenditures at theChrysler Group and excluding the gain from the sale of MTU AeroEngines).We anticipate sig
167、nificant improvements in earnings in theyears 2005 and 2006,when the full effects are felt of bothMercedes Car Groups second model offensive and ChryslerGroups new products.In total,the DaimlerChrysler Group intendsto launch about 50 new vehicle models in the years 2004 through2006.In addition,we wi
168、ll consistently push forward the programsrunning in all divisions to enhance competitiveness,creating theright conditions also on the cost side for a sustained improvementin our profitability.The intensified networking of our worldwideactivities,the knowledge transfer within the Group and above allt
169、he cross-divisional projects initiated by the Executive AutomotiveCommittee(EAC)will all contribute towards higher earnings in thecoming years(see pages 58 f.)However,a basic condition for theachievement of the targeted increase in earnings is a stableeconomic and political environment worldwide,as
170、well as theupturn in the global demand for automobiles expected for the years2004 through 2006.35203 DCGB_E_014-017.qxd 02.03.2004 9:07 Uhr Seite 1638 billion to secure the future.In the planning period of 2004through 2006,DaimlerChrysler will spend some 38billion onproperty,plant and equipment,and
171、research and development.Cross-divisional collaboration within the Group and with our Asianpartners and the resulting economies of scale should enable us toemploy these funds even more efficiently than in the past.A largepart of the expenditure will be for the development and preparationof new produ
172、cts to continue Mercedes Car Groups second modeloffensive and for Chrysler Groups new models.Significant sumsare also planned for modernizing production facilities and develop-ing new technologies to enhance the safety,environmental com-patibility and economics of road transport.Forward-Looking Stat
173、ements in this Annual Report:This Annual Report contains forward-looking statements that reflect managementscurrent views with respect to future events.The words anticipate,assume,believe,estimate,expect,intend,may,plan,project and should and similar expressions identifyforward-looking statements.Su
174、ch statements are subject to risks and uncertainties,including,but not limited to:an economic downturn in Europe or North America;changes in currency exchange rates and interest rates;introduction of competingproducts;increased sales incentives;and decline in resale prices of used vehicles.Ifany of
175、these or other risks and uncertainties occur(some of which are describedunder the heading“Risk Report”on the pages 101 ff in this Annual Report and underthe heading“Risk Factors”in DaimlerChryslers most recent Annual Report on Form20-F filed with the Securities and Exchange Commission),or if the ass
176、umptions under-lying any of these statements prove incorrect,then actual results may be materiallydifferent from those expressed or implied by such statements.We do not intend orassume any obligation to update any forward-looking statement,which speaks only asof the date on which it is made.|1716In
177、billionsPlan 2004141 535229140.4161615834170.4Plan 2006In billionsPlan 20047.33.0 2.81.30.10.121.78.39.03.90.30.22004-2006In billionsPlan 20045.62.5 1.81.10.216.47.35.43.10.62004-2006RevenuesInvestments in Property,Plant and EquipmentResearch and Development ExpenditureThe smart roadster-coup on Gra
178、n CanariaDaimlerChrysler GroupMercedes Car GroupChrysler GroupCommercial VehiclesServicesOther ActivitiesDaimlerChrysler GroupMercedes Car GroupChrysler GroupCommercial VehiclesServicesOther ActivitiesDaimlerChrysler GroupMercedes Car GroupChrysler GroupCommercial VehiclesOther Activities35203 DCGB_
179、E_014-017.qxd 28.02.2004 10.45 Seite 17DaimlerChrysler Sharesprice then came under pressure in fall as a result of profit-takingand investors unease over the outlook for the automotive industry.In the closing weeks of the year,DCX was stronger than the overallmarket and ended the year at 37.00 in Fr
180、ankfurt and US$46.22 inNew York close to its peaks for the year.During 2003,Daimler-Chrysler shares were again among the most liquid in the world witha global trading volume of 1.7 billion shares(2002:1.6 billion),aof which 153 million were traded in the United States(2002:154million)and 1.6 billion
181、 in Germany(2002:1.5 billion).Investor relations activities.The Investor Relations departmentprovided information on the Group in a timely manner to analysts,institutional investors,rating agencies and retail shareholdersthroughout the year.One of the most important events was theAnnual Meeting,whic
182、h took place in Berlin on April 9,2003 withmore than 9,000 participants.On the Internet,we continued toexpand the range of information available to institutional andprivate investors.In September 2003,along with a redesign of theGroups website,we completely revised the Investor Relationssection.Our
183、communication activities for institutional investorsand analysts included roadshows in the major finance centers ofEurope,North America and Asia,as well as some 120 discussionsheld at our headquarters in Stuttgart and Auburn Hills.We alsoprovided information on our quarterly results to the investmen
184、tcommunity in conference calls which were simultaneouslybroadcast on the Internet.International stock markets in 2003.After three disappointingyears,international stock markets made strong gains in 2003.All the major international indices such as the S&P 500,the DowJones Industrial,the Nikkei,the Eu
185、ro Stoxx 50 and the DAX closedthe year substantially higher than they started.At the beginning of 2003,the downward trend of the prior yearcontinued.Investors general unwillingness to purchase sharesreflected the weak state of the global economy and the threat ofmilitary conflict in the Middle East.
186、Another negative factor at thattime was the spread of SARS in Asia and Canada.Share pricesrose significantly during the summer months.Investors willingnessto buy was encouraged by low share prices and growing signs ofeconomic recovery,particularly in the United States.In the fourthquarter,equity mar
187、kets first went through a period of consolida-tion,before climbing again significantly at the end of the year.DCX performance in 2003.Like other equities,DaimlerChryslersstock was affected by the difficult market situation at thebeginning of the year.However by the Annual Meeting at thebeginning of
188、April it was performing relatively well.When investorsstarted buying again,our stock climbed 54%from its low for theyear(23.94)in the middle of March to 36.85 at the beginning ofSeptember.The upward trend was slowed slightly at the beginningof June by the announcement that,due to the intense competi
189、tionin the United States,Chrysler Group would report a loss for thesecond quarter and that the DaimlerChrysler Groups operatingprofit target would be lowered to around 5 billion.Althoughseveral analysts reduced their earnings forecasts and share pricetargets,DCX climbed during the summer months and
190、was one of the best performing stocks in the automotive sector.The shareSignificant stock market gains after weak start in the first quarter of 2003|Revival inequity prices due to first signs of global economic recovery|DCX up 26%over the yearto 37.00 Essentials|Chairmans Letter|Board of Management|
191、Business Review|Outlook|DaimlerChrysler Shares|DaimlerChrysler Worldwide35203 DCGB_E_018-019.qxd 02.03.2004 9:08 Uhr Seite 18|191810,4541,4684,47710,6772,7613,96519010137.008,3429843,9408,5792,3862,8931547329.35+25+49+14+24+16+37+23+38+26Development of Important IndicesStatus End of 2003Status End o
192、f 2002%Change3,31746.82,6331,012.837.51.87.2%1.3%BBBA3BBB+2,6331,012.829.71.88.1%2.1%BBB+A3Statistics200320032002December 31US$0.550.5542.8946.22 246.83 226.96 20.440.441.5034.0537.00 137.34 123.94 14.684.671.5034.7229.35 155.44 128.16 1Statistics per Share200320032002US$The DaimlerChrysler Annual M
193、eeting 2003807090100110120130140DaimlerChryslerDAXDec.31 Feb.02283030303130AprilJuneAug.Oct.Dec.Dow Jones STOXX Auto IndexShare Price IndexDaimlerChrysler Share Price(high/low)in 2520303540Feb.03April03June03Aug.03Oct.03Dec.03Jan.03March 03May03July03Sept.03Nov.033Deutsche Bank AGKuwait Investment A
194、uthorityInstitutional investorsRetail investorsFree float 81%Major shareholders 19%By type of shareholder12%7%53%28%Rest of the worldEurope excluding GermanyGermany7%15%23%55%USAShareholder Structure at of Dec.31,2003By regionDow Jones Industrial AverageNasdaq CompositeFTSE 100NikkeiDow Jones Euro S
195、toxx 50DAX 30Dow Jones Stoxx Auto EuropaMSCI World Index AutomobilesIn comparison:DaimlerChryslers shares(in)Capital stock(in millions)Number of shares(in millions)Market capitalization(in billions)Number of shareholders(in millions)Weighting on share indexDAX 30Dow Jones Euro Stoxx 50Credit rating,
196、long-termStandard&PoorsMoodysFitchNet income(basic)Net income(diluted)DividendStockholders equity(Dec.31)Share price:year-endhighlow1 Frankfurt Stock Exchange.2 New York Stock Exchange.35203 DCGB_E_018-019.qxd 28.02.2004 10.47 Seite 19DaimlerChrysler WorldwideNearly 100 production locations in 17 co
197、untries|Worldwide sales of vehicles and financial services|NAFTA and Europe once again main sources of revenues|Increasing importance of AsiaEssentials|Chairmans Letter|Board of Management|Business Review|Outlook|DaimlerChrysler Shares|DaimlerChrysler WorldwideEuropeProductionlocationsSales outletsR
198、evenues inmillions of Employees9194,7749932,4253,10915,1945,56839694,61444558,95340,9384,41310,777South AmericaProductionlocationsSales outletsRevenues inmillions of Employees12354882042891,060911,12657111,019330NAFTAProductionlocationsSales outletsRevenues inmillions of Employees132175,1584411,8484
199、5,0449,2827,917362,19192,03422,0492,5715,4752,322AsiaProductionlocationsSales outletsRevenues inmillions of Employees3121,11095,1004161,3951346352121,3851,31715545Mercedes Car GroupChrysler GroupCommercial VehiclesSales OrganizationAutomotive BusinessesServicesOther ActivitiesMercedes Car GroupChrys
200、ler GroupCommercial VehiclesSales OrganizationAutomotive BusinessesServicesOther ActivitiesMercedes Car GroupChrysler GroupCommercial VehiclesSales OrganizationAutomotive BusinessesServicesOther ActivitiesMercedes Car GroupChrysler GroupCommercial VehiclesSales OrganizationAutomotive BusinessesServi
201、cesOther Activities35203 DCGB_E_020-021.qxd 02.03.2004 9:09 Uhr Seite 20|2120Finish of the Mercedes-Benz S-Class and E-Class in the DaimlerChrysler plant in SindelfingenAfricaProductionlocationsSales outletsRevenues inmillions of Employees11124131,07828194719715,8681,123463Australia/OceaniaProductio
202、nlocationsSales outletsRevenues inmillions of Employees21127831825621301533783199Note:Unconsolidated revenues of each division(segment revenues)Mercedes Car GroupChrysler GroupCommercial VehiclesSales OrganizationAutomotive BusinessesServicesOther ActivitiesMercedes Car GroupChrysler GroupCommercial
203、 VehiclesSales OrganizationAutomotive BusinessesServicesOther Activities35203 DCGB_E_020-021.qxd 28.02.2004 10.48 Seite 21Moving People|Mercedes-Benz Passenger Cars|smart|Maybach|Chrysler|Jeep|Dodge|Mercedes-Benz Trucks|Setra|Freightliner|DaimlerChrysler Services Moving People35203 DCGB_E_022-023.qx
204、d 03.03.2004 16.07 Seite 22|23The Mercedes-Benz E-Class station wagon at the Cap AntibesOn the following pages you will experience the world ofDaimlerChrysler from a very special perspective.Unique personal portraits of customers of our brands weregathered worldwide.For the first time we utilized th
205、e photographictechnique of lomography,which enables creating vivid and almostcinematic images of people in motion.DaimlerChrysler is a dynamic company,which guarantees a broadspectrum of possibilities through its brands and products.We havetried to capture the world of our customers and their vehicl
206、esthrough“authentic“,“living“photographic images.Can you feel thespirit of independence shining through?You can experience“real“customers in real situations and livingenvironments.The young Mercedes couple in Antibes,the Chryslerfamily in Miami,the charming Setra driver in sunny Spain,theproud Freig
207、htliner trucker in Portland.Everyone was glad to cooperate and everyone welcomed theopportunity to act as ambassadors of our brands in the AnnualReport.And,of course,this also confirmed us in our philosophythat the best stories are written by life itself.Enjoy the world of DaimlerChrysler!2224Merced
208、es-Benz Passenger Cars26smart 28Maybach30Chrysler32Jeep34Dodge36Mercedes-Benz Trucks38Setra40Freightliner42DaimlerChrysler Services35203 DCGB_E_022-023.qxd 03.03.2004 16.07 Seite 23“Love at first sight.”35203 DCGB_E_024-025.qxd 28.02.2004 10.59 Seite 24Mari and Samuli Trnen live on the Cte d Azur an
209、d work for their family business.When theytravel home to Finland the couple needs a lot of space for their suitcases and dogs.“Our parents love and drive Mercedes-Benz its a family tradition.And when I saw the shape ofthe E-Class station wagon,I knew we just had to have it.This car is an invitation
210、to load up”,says Samuli.And they do have a lot to.Mercedes-Benz Passenger CarsExceptionally spacious.Irresistibly good looking.24|2535203 DCGB_E_024-025.qxd 28.02.2004 11.00 Seite 25smart“Sunny views”The sports students Lorena and Ingrid live on Gran Canaria.Since buying their smart roadsters,they e
211、xplore all the bends this sunny island has to offer.Every moment behind the wheel is anexperience in itself.“If you want to feel it,youve got to drive it”,says Lorena,laughs and jumpsback into her light,puristic car.“Our breaks are getting shorter”,adds Ingrid.Guess why?35203 DCGB_E_026-027.qxd 28.0
212、2.2004 11.03 Seite 26Time for a break.And then rock the road.Again and again.26|2735203 DCGB_E_026-027.qxd 28.02.2004 11.03 Seite 27“Rendezvous in Miami”35203 DCGB_E_028-029.qxd 28.02.2004 11.04 Seite 28MaybachSix months out of the year,Michael Fux lives and works in Miami,the other half hes in New
213、Jersey,where his company is located.He is always working and creating new ideas.His Maybach 57 offers him all the possibilities of a business jet on wheels.“Business and cars are the major joys inmy life”,says Michael Fux,“and the Maybach offers me a maximum standard of comfort at alltimes”.This is
214、the pleasure of surprising those accustomed to excellence.In pursuit of perfection.Prestige luxury saloon and mobile office.28|2935203 DCGB_E_028-029.qxd 28.02.2004 11.04 Seite 29“Juniors on tour”35203 DCGB_E_030-031.qxd 28.02.2004 11.05 Seite 30ChryslerThree boys.Five stars.Have a nice weekend.Foot
215、balls,skateboards,rackets.many things have to be taken along if you are travelling with three boys,even just for a weekend trip.Emma and Ken Fleming love to travel in their Chrysler Pacifica the boys watch cartoons,all toys are on board and five stars in safety give a family a feeling of security.Di
216、d we mention the design?30|3135203 DCGB_E_030-031.qxd 28.02.2004 11.06 Seite 31“Outdoor games”35203 DCGB_E_032-033.qxd 28.02.2004 11.07 Seite 32JeepGo anywhere.Do anything.Franco and Leslie are just married.For their free time they have found a perfect companionthe JeepLiberty.On weekends,they grab
217、a tent and their backpacks,jump in their JeepLiberty and stop somewhere in the Everglades.And next weekend?Be sure,they will have fun,wherever it is.|333235203 DCGB_E_032-033.qxd 28.02.2004 11.07 Seite 33DodgeYou can pack plenty inside a Dodge Durango.And with the HEMI engine you get best-in-classho
218、rsepower.But these are not the only convincing features for Sandy and Al Short.They really live,breathe and for more than 36-years have driven Dodge products.For building their ownrestaurant in Rancho Cucamango,California,the Durango is perfect for loading supplies.And on weekends,Al tows his 1968 D
219、odge Barracuda with his Durango to the race track.Thats convincing.“Private power station”35203 DCGB_E_034-035.qxd 28.02.2004 11.21 Seite 34Big size.Smooth ride.And HEMI Power.34|3535203 DCGB_E_034-035.qxd 28.02.2004 11.21 Seite 35“Always on time”35203 DCGB_E_036-037.qxd 28.02.2004 11.22 Seite 3636|
220、37Mercedes-Benz Commercial VehiclesToday in Bozen.Tomorrow in Rome.We keep our promises.The new Mercedes-Benz Actros has all the benefits of the popular Actros model series,as well as a number of new features that increase efficiency and improve transport performance even further.These features are
221、also appreciated at the Fercam Logistics&Transport shipping firm in Bozen,which has been in the international transport business since 1965.The drivers of the fleet,of over 400 Mercedes-Benz semi-trailer tractors,are enthusiastic:Franz Klammer and Heinz Pfister alreadyswear by the“Actros 2”with its
222、new driver-concept and comfortable interior cabin design and,like the International Jury,would choose the new Mercedes-Benz Actros as Truck of the Year 2004.35203 DCGB_E_036-037.qxd 28.02.2004 11.23 Seite 37Setra“Ready for travelling”In general,buses in Spain are used less for weekend or study trave
223、l than as the basic form of public transportation.Many passengers know and value the yellow Setra buses of ContinentalAuto in Madrid,the largest private bus operator in Spain.Santos Fernandes from Continental is proud to say that he has transported over 200 new Setra buses from the Ulm factory to Ma
224、dridsince 1996.Today,he and his co-workers traverse Spain in 800 yellow buses,which travel from city to city.Bilbao?Granada?Toledo?A ticket for the yellow bus,please!35203 DCGB_E_038-039.qxd 28.02.2004 11.30 Seite 38Contented faces.Faithful customers.Welcome on board.38|3935203 DCGB_E_038-039.qxd 28
225、.02.2004 11.30 Seite 39“Own the road”35203 DCGB_E_040-041.qxd 28.02.2004 11.34 Seite 40FreightlinerPower to succeed.Highway inspiration.Pride of the trucker.North America rides more miles with Freightliner Trucks than anyone else in the industry.Craig Smith is an owner-operator.His first truck was a
226、 Freightliner.Thats 25 years ago.With his Coronado,Freightliners newest truck,he hits the road:about 150.000 miles a year,delivering fresh food.Craig nearly lives in his heavy-duty truck and hes quite proud of it:“Every detail of the Coronado is engineered to give even the most demanding driver more
227、.You should see the envy creep over the faces of the other drivers”.We can imagine,Craig.Take a load off,kick back and relax.40|4135203 DCGB_E_040-041.qxd 28.02.2004 11.34 Seite 41“Love Chrysler”35203 DCGB_E_042-043.qxd 28.02.2004 11.34 Seite 4242|43DaimlerChrysler ServicesMonica Brem and her two so
228、ns have a simple concept:Love Chrysler!Monica raised her children all by herself.On the side she wrote books.And she is a successful entrepreneur.Monica is aChrysler dealer in Corpus Christi,Texas and for her customers she is always looking for the besttailor-made financing solutions:she is working
229、with DaimlerChrysler Services.Best financial solutions.Happy customers.Successful dealers.35203 DCGB_E_042-043.qxd 28.02.2004 11.35 Seite 43DivisionsDivisions|Mercedes Car Group|Chrysler Group|Commercial Vehicles|Executive Automotive Committee|Services|Other Activities35203 DCGB_E_044-045.qxd 03.03.
230、2004 16.08 Seite 44|454446Mercedes Car Group50Chrysler Group 54Commercial Vehicles58Executive Automotive Committee60Services62Other ActivitiesThe Mercedes-Benz E-Class station wagon in Antibes,France 35203 DCGB_E_044-045.qxd 03.03.2004 16.08 Seite 453,12651,446 2,9392,6871,211,9811,216,938104,1513,9
231、3864,807 3,7023,385Amounts in millionsUS$20033,02050,1702,4952,7941,238,9271,232,334101,778Mercedes Car GroupIncrease in earnings compared to prior year.Despite difficultconditions,the Mercedes Car Group strengthened its position innearly all markets in 2003.Although major markets experienced adecli
232、ne in demand for passenger cars,the division,comprising the premium passenger car brands of Mercedes-Benz,Maybach,smart,Mercedes-Benz AMG and Mercedes-Benz McLaren,sold1,216,938 vehicles.Unit sales were therefore close to the previousyears level.As a result of the more favorable line up,revenuesincr
233、eased by 3%to 51.4 billion.Operating profit of 3.1 billionexceeded the previous years level,despite the high costs associatedwith preparations for the second model offensive,the smart for-four,and marketing activities related to the launch of new models.Mercedes-Benz strengthens market position.The
234、generally lowlevel of demand had little impact on Mercedes-Benz passengercars.While unit sales increased in the United States by 3%and inJapan by 4%,in Western Europe they fell by 4%.Significant growthin the United Kingdom(+8%),Italy(+5%)and Spain(+9%)was off-set by a decline in sales in Germany(-7%
235、)and France(-9%).At1,092,200 units(-2%),the brands total sales were slightly belowlast years record.However,thanks to its wide range of attractivemodels,the Mercedes-Benz brand was able to generally stengthenits market position and remains the worlds most successful premium brand.Operating profit hi
236、gher than previous years level despite increased investment in new products|More favorable model line up leads to further growth in revenues|Unit sales fall slightly due to difficult market conditions|Strong demand for E-Class,S-Class,CLK coupes and CLK convertibles|New smart roadster and roadster c
237、oupe very successful Divisions|Mercedes Car Group|Chrysler Group|Commercial Vehicles|Executive Automotive Committee|Services|Other Activities20022003Operating profitRevenuesInvestments in property,plant and equipmentResearch and development expenditureProduction(units)Unit salesEmployees(Dec.31)3520
238、3 DCGB_E_046-049.qxd 28.02.2004 12.36 Seite 46Highly successful launch of new E-Class station wagon andnew CLK convertible.Both the E-Class sedan and station wagonproved particularly popular in 2003,as did the CLK coupe and convertible.The fact that all of its variants were available in all markets
239、greatlycontributed to the success of the E-Class.Following its launch inEurope in March 2003 and its introduction in the US in November,the E-Class station wagon alone sold 42,700 units.A total of305,300 E-Class vehicles were sold,up 26%compared with 2002,the year of the models launch.Unit sales of
240、the CLK coupe and convertible increased by 42%to85,900 vehicles,significantly exceeding expectations.This figureincludes 18,300 for the new CLK convertible,launched in Europe andJapan in May 2003 and in the US in September.With unit sales of442,100 vehicles,the C-Class performed extremely well in a
241、marketsegment that contracted worldwide.The anticipated drop in C-Class sales of sedans,station wagons,the sport coupe and theSLK was the result of lifecycle-related factors.By carrying outextensive model upgrades we aim to make the C-Class sedan,thestation wagon and the sport coupe even more attrac
242、tive for ourcustomers early in the summer of 2004.The S-Class has to compete with various new models in its segment and its continued success is therefore particularlyencouraging.Six years after its market launch,the S-Class sedanposted sales of 67,800 vehicles,slightly higher than the highlevel of
243、the previous year.The SL roadster also continued its success story,with sales rising by another 6%to 33,400 units.Unit sales of the A-Class,introduced in 1997,fell by 14%to147,400 vehicles.This decline,in a market segment with a largenumber of new products,was mainly due to the present modelapproach
244、ing the end of its lifecycle.The A-Class has enabled Mercedes-Benz to successfully establish itself in the small-car segment with a premium-class vehicle.More than one million A-Class vehicles have rolled off the assembly line since its launch.Also related to the models lifecycle,unit sales of the M
245、-Classdecreased by 20%to 81,200.Since its introduction in 1997,morethan 500,000 M-Class vehicles have been delivered to customers.Expanded capacities at Rastatt and Tuscaloosa.A total of 900 million is being invested in the Rastatt plant to prepare for an A-Class successor model.We plan to expand th
246、e A-Class into a model family with the new series,thus strengthening theMercedes-Benz brands presence in this market segment.We are also investing US$600 million to expand the Tuscaloosaproduction site.Ten years after the decision to build the Tuscaloosaproduction site,the company will double both t
247、he number ofemployees at the plant to around 4,000 and its annual productioncapacity to 160,000 vehicles.The Tuscaloosa plant will producethe M-Class successor model as well as another model variant andthe new Grand Sports Tourer(GST).By combining features of existing vehicle types such as the famil
248、y sedan,the station wagonand the SUV,the new GST will have a unique character and will create a new market segment.Fascinating new models presented at the Frankfurt MotorShow.In September,we unveiled the Mercedes McLaren SLR supersports car and the Vision CLS four-door coupe concept vehicle at the I
249、nternational Motor Show in Frankfurt.Both enjoyed an overwhelmingly positive response.As a result,we decided inNovember to put the Vision CLS,which combines the features anddynamism of a coupe with the comfort and functionality of asedan,into series production as the CLS-Class.The first SLR super sp
250、orts car from the McLaren production facilityin Woking,England,was handed over to the Laureus Sports AwardFoundation.The car was subsequently auctioned and the proceedsdonated to charity.Deliveries will begin in April 2004.To ensureexclusivity,in total no more than 3,500 SLR super sports cars willbe
251、 produced.|4746The Mercedes-Benz E-Class station wagon in the harbour at Antibes,France35203 DCGB_E_046-049.qxd 28.02.2004 12.36 Seite 47Divisions|Mercedes Car Group|Chrysler Group|Commercial Vehicles|Executive Automotive Committee|Services|Other ActivitiesA successful year in motor sports.Mercedes-
252、Benz had a verysuccessful year in motor sports.In addition to winning the GermanTouring Car Series(DTM),Mercedes-Benz was runner-up in Formula One racing,with the outcome being decided only at thefinal Grand Prix in Japan.Thus after an exciting series of races,Mercedes McLaren driver Kimi Rikknen fi
253、nished the season insecond place,just two points behind the overall winner.In the DTMraces,Bernd Schneider demonstrated the impressive capabilitiesof the CLK DTM racing car by winning his fourth DTM title.Withnine first-places in ten races,Mercedes-Benz dominated the DTMseries.Maybach satisfies the
254、most discerning customers.The Maybach,which is currently at a production level of four vehicles aday,satisfies even the most exacting customer requirements.Atthe Maybach production facility in Sindelfingen,top priority is givento achieving perfection and ensuring complete customer satis-faction.In 2
255、003,we delivered about 600 of these exclusive sedansto our customers.Additional Maybach Centers were opened during the year in locations including Tokyo,Hong Kong and Kuwait.A total of 16 Maybach centers are now in operation,as well as 71 Maybach sales partners in the United States.smart positions i
256、tself as a multi-product brand.Sales of smartbrand vehicles increased by 2%in 2003 to 124,700 units.Germany(41,500 units)and Italy(32,600 units)continue to be smarts most important markets.Sales in the UK(13,100 vehicles,+36%)and in France(9,500 vehicles,+11%)were particularly encouraging.Overall,sm
257、art succeeded in expanding its share of a sharply contracting market.The very positive response to the smart roadster and smart roadster-coup contributed substantially to this success.Thesenew models,launched in April,revived the segment for small,purist sports cars.We already delivered 20,100 units
258、 in 2003.Thanks to the introduction of the roadster and the roadster-coup,smart has made the transition from a single-product to a multi-product brand.This development has been accompanied by a newcompany logo and a new slogan,“open your mind”.With sales of 104,600 units,the city-coup and the cabrio
259、continued to be the best-selling models.New comfort and safetyfeatures were added in the spring of 2003.The ESP(ElectronicStability Program)handling system is now standard equipment on all smart models.Since the smarts market launch in 1998,542,200 smart city-coups and cabrios have been sold.It is n
260、owestablished as an innovative lifestyle brand in the mini-car and small-car segment.smarts special appeal is also confirmed by its high resale value.According to EurotaxSchwacke,which monitors pre-owned auto-mobile prices in Germany,the smart city coupe retains 74%of itsoriginal value after two yea
261、rs.35203 DCGB_E_046-049.qxd 28.02.2004 12.36 Seite 481,0921093054428622531478171251,217390423236219116746-2+2+26-8+42-27-28-14-20-16+2-1-6+1+2+3-18+9-3New markets for the smart brand.In 2003,the smart waslaunched in seven new markets:Australia,Mexico,Finland,Ireland,Cyprus,Lebanon and Turkey.As a re
262、sult,smart cars are now available in 31 countries,and due to strong demand worldwide,other markets will follow.The launch in Mexico allowed smart to take an important first step into the NAFTA region.A compact SUV with off-road ability is also being developed,the smart formore,which will be manufact
263、ured in Brazil and launched in the United States in 2006.Presentation of the smart forfour.We presented the next newmodel,the smart forfour,at the Frankfurt Motor Show in September2003.The response was very positive.Thanks to its design,highsafety standards and unparalleled innovations in this segme
264、nt,theforfour will set a new benchmark in the small-car segment beginningin April 2004.The smart forfour will be produced at the NedCarplant in Born,the Netherlands,which will be operated as a jointventure between DaimlerChrysler and Mitsubishi Motors.As a part of the smart product offensive,the nam
265、e logic begunwith the new four-seater was passed on to the city-coup and the cabrio of the smart brand.Since January 1,2004,these modelshave the new names,smart fortwo coup and smart fortwo cabrio.Passenger Car Sales 200311,00003/02unitsin%|4948Mercedes-Benzof which:S-Class/SL/MaybachE-ClassC-Classo
266、f which:CLKSLKSport CoupeA-ClassM-ClassG-ClasssmartMercedes Car Groupof which:GermanyWestern Europe(excluding Germany)NAFTAUnited States(retail sales)South AmericaAsia/Oceania(excluding Japan)Japan1 Group figures,unless otherwise indicated,(including leased vehicles)The smart roadster and the smart
267、roadster-coup at a viewing point on Gran Canaria35203 DCGB_E_046-049.qxd 01.03.2004 11.46 Seite 49Chrysler GroupEarnings impacted by challenging market environment.TheChrysler Group reported an operating loss of 506 million in 2003,including restructuring costs of 469 million(2002:operating profit o
268、f 0.6 billion including restructuring costs of 0.7 billion).Although the Chrysler Group did not completely attain its target of a small operating profit from ongoing business,it came veryclose to this goal.Last years restructuring expenditures still related mainly to the turnaround plan announced in
269、 February 2001.In the second quarter,the Chrysler Group posted a substantialoperating loss reflecting sharp increases in customer incentives.However,due in particular to further cost-reduction activities and model renewals during the year,the Chrysler Group achieved positive earnings in the third an
270、d fourth quarters.Overall,theextremely successful measures we took to reduce costs,evenexceeding the additional mid-year target of US$1 billion incrementalsavings,did not offset the losses from falling unit sales and higherincentives.Worldwide in 2003,the Chrysler Group sold 2.64 million passengerca
271、rs,minivans,sport-utility vehicles and light trucks of the Chrysler,Dodge and Jeepbrands(2002:2.82 million).Retail sales in the USdecreased by 4%to 2.13 million vehicles.Sales growth for theDodge Ram pickup truck(+13%),the JeepWrangler(+9%)and theDodge Durango(+1%)was offset by lower retail sales of
272、 Chryslerand Dodge minivans(-8%)and passenger cars(-13%).Overall marketshare in the United States was 12.5%(2002:12.9%).Due to currency-translation effects,lower unit sales and higher salesincentives,revenues decreased to 49.3billion(2002:60.2 billion).In US dollars,revenues fell in 2003 by 2%.Opera
273、ting loss of 506 million including restructuring expenditures of 469 million|Result fromongoing business close to breakeven|Earnings impacted by tough competition in the US market|Significant improvements in productivity and product quality|Exciting new modelslaunched in 2003|Nine new products plann
274、ed for 2004 Divisions|Mercedes Car Group|Chrysler Group|Commercial Vehicles|Executive Automotive Committee|Services|Other Activities(506)49,321 2,4871,6892,552,3082,637,86793,062(637)62,130 3,1332,128Amounts in millionsUS$200360960,1813,1552,0622,749,9032,822,65995,83520022003Operating profit(loss)R
275、evenues Investments in property,plant and equipment Research and development expenditure Production(units)Unit sales Employees(Dec.31)35203 DCGB_E_050-053.qxd 28.02.2004 12.40 Seite 50Significant gains in quality and efficiency.The quality ofChrysler,Jeepand Dodge vehicles continued to improve in 20
276、03.This is shown,for example,by the further reduction in warrantycosts.Basic limited warranty costs per vehicle have fallen nearly50%from 1996 to 2003 model years.Other indicators of theChrysler Groups improved quality include J.D.Power and AssociatesInitial Quality Survey(IQS),which showed another
277、year-over-yearimprovement,despite a flat industry average.For example,the newDodge Ram heavy duty pickup truck was selected as best in itsclass with a 10%quality improvement over the previous model.The Harbour Report North America,which measures the productivity of US auto manufacturers,reported tha
278、t the ChryslerGroup achieved an 8.3%improvement in overall manufacturing efficiency compared with the prior year.This is the second-highestincrease for an automotive manufacturer since the HarbourReports inception in 1981.More flexibility through new UAW agreement.In September2003,the Chrysler Group
279、 ratified a new labor contract with theUnited Auto Workers in the United States,governing the wages and working conditions of more than 58,000 employees.The newagreement includes wage increases,while allowing the company greater flexibility in workforce deployment and to adjust to changingeconomic c
280、onditions.Product offensive to improve competitive position.The ChryslerGroup has significantly reduced costs in the last few years,includingadditional savings of US$1 billion in 2003 alone,beyond what wasoriginally targeted for this year.Its strategic focus is now on furtherincreasing efficiency an
281、d strengthening its competitive positionwith innovative new vehicles and a stronger sales organization.With new vehicles,the Chrysler Group intends to match the best inthe world in terms of customers perceptions,product quality andproductivity,and will differentiate from the competition with excitin
282、gdesign and attractive pricing.To achieve this,the Chrysler Groupwill use the potential of collaboration within the DaimlerChryslerGroup and with our alliance partner,Mitsubishi Motors Corporation.As part of a far-reaching product offensive,the Chrysler Groupwill launch nine new products this year.T
283、hese will include theChrysler 300C sedan,new minivans from Dodge and Chrysler,theDodge Magnum and the JeepGrand Cherokee.New Chrysler brand models.The Chrysler brand presented two unique new vehicles in the spring and summer of 2003 theChrysler Pacifica and the Chrysler Crossfire.The Pacifica combin
284、es the spaciousness of a minivan with theversatility of a sport-utility vehicle and the comfort of a sedan.Ithas created a new market segment and sets standards for theChrysler brand in terms of product design and engineering.Unitsales of the Pacifica in the US market increased every monththroughout
285、 the year after its launch in March 2003,reaching totalsales of 56,700 vehicles by the end of the year.Assembled in Germany by our partner,Karmann,the new ChryslerCrossfire sport coupe combines German technology with the power and design of a typical American sports car.Launched inJune 2003,more tha
286、n 4,000 units had been sold in the US by the end of the year.In total,the Chrysler brand sold 609,200 vehicles in 2003(2002:665,300).In 2004,we will launch additional new products under theChrysler brand;these were presented to the public at the DetroitMotor Show at the beginning of 2004 and were ve
287、ry positivelyreceived.In addition to the Chrysler Crossfire coupe,a roadsterversion will be offered,featuring an innovative folding roofdesigned to provide ample usable trunk space when down.Thesuccess of the Chrysler PT Cruiser will continue with the availabilityof a convertible version.And a new C
288、hrysler 300C full-size sedanwill combine the advantages of rear-wheel drive with a powerful5.7 liter HEMI V-8 engine and stunning design.Twentieth anniversary of the minivan.The Chrysler Group,inventor of the minivan,celebrated the 20th anniversary of thissuccessful vehicle category in 2003.The comp
289、any has producedmore than 10 million Chrysler and Dodge minivans since the vehicles launch in 1983.During this period,the Chrysler Grouphas introduced 50 minivan-first features and earned more than150 industry awards.The Chrysler Group intends to follow up this success with a newrange of minivans,to
290、 be launched early in 2004.The Chrysler andDodge minivans will be the first in the market to offer“Stow n Go”seating.This allows owners to fold the second-and third-row seatsinto the floor with virtually effortless one-hand operation.Stow nGo is one of more than 15 new features on the new minivans,w
291、hichensure higher safety standards and driving experience,among otherthings.The new models were created on an all-new platform andwere brought to market in just 18 months.|5150The Chrysler Pacifica arriving at a resort in Miami,Florida35203 DCGB_E_050-053.qxd 28.02.2004 12.40 Seite 51Divisions|Merce
292、des Car Group|Chrysler Group|Commercial Vehicles|Executive Automotive Committee|Services|Other ActivitiesDodge brand sets new standards with Durango.Dodge contin-ues to be one of Americas best-known and longest-runningbrands.Whether sports cars,pickup trucks,SUVs or minivans,all Dodge vehicles combi
293、ne performance,tradition and style with the brands unmistakable character.An all-new Dodge Durango was launched in November 2003,which is larger than its predecessor and provides impressive per-formance and towing capability.Due to an improved cost situation,we were able to reduce the base price by
294、US$1,000 comparedwith the 2003 model,in the case of the Durango SLT 4x4 the priceis actually US$2,000 lower,although the new model features acompletely new body,new engines and improved equipment.Thevehicle showed a very strong start in the market and has alreadyreceived three awards including the“T
295、ruck of the Year”.The newDurango is manufactured at the Newark,Delaware,assembly plant,in which the Chrysler Group has invested approximately US$180million.Through flexible manufacturing processes and by reusingexisting plant equipment,the Chrysler Group was able to reducecapital expenditures for th
296、is new model by 30%compared to simi-lar model changeovers in the past.It shows that new,more flexiblemanufacturing methods can be applied to existing operations,anddemonstrates how we are boosting productivity and flexibility whilefurther improving quality.New Dodge vehicles in 2004 will include the
297、 Caravan minivan,theDakota and the all-new Dodge Magnum,a sports tourer featuring a 5.7 liter HEMI engine and rear-wheel drive.This vehicle offers theperformance of a powerful sedan combined with the functionalityof a sport-utility vehicle.Overall,Dodge sold 1,428,000 vehicles in 2003(2002:1,561,800
298、).Jeep:Fun,freedom and legendary off-road ability.In a chal-lenging market environment,Jeepcontinued to enthuse customers in 2003 with its rugged and versatile vehicles and leg-endary off-road capability.A total of 596,200 JeepGrand Cherokee,JeepLiberty(Cherokee outside the United States)andJeepWran
299、gler vehicles were sold(2002:595,600).The Jeepbrand generates customer enthusiasm and loyaltythrough relationship management and individual customer care.For example,we offer Jeepowners unequaled opportunities toexplore their vehicles off-road abilities and to share their experience first hand with
300、fellow Jeepowners.One of theseopportunities is Camp Jeep,which is among the largest and best-attended owners events in the United States.It was held for theninth time in 2003.The Chrysler Group will introduce the new JeepWrangler Unlimited model later in 2004.With a longer wheelbase,this vehicle off
301、ers more space,improved off-road capability andenhanced on-road comfort and quietness.The most important new Jeepmodel in 2004 will be the newJeepGrand Cherokee,which will be available at dealerships later in the year.Presentation of pioneering concept vehicles.In 2003,severalconcept vehicles provid
302、ed a glimpse of the Chrysler Groups exciting model generations to come.At the Geneva Motor Show in March,the Chrysler Group unveiledthe Chrysler Airflite concept.The Airflite blends the passion ofChrysler design,the styling of a coupe and the practical function-ality of a sedan to create a unique in
303、terpretation of the five-doorhatchback.In September 2003,the Chrysler 300C Touring concept was presented at the Frankfurt International Motor Show.The station-wagon version of the Chrysler 300C shares most of its design,powertrain and interior appointments.The 300C Touring targetsmarkets in Europe a
304、nd is to be launched there in 2004.35203 DCGB_E_050-053.qxd 28.02.2004 12.40 Seite 52The JeepTreo was shown at the Tokyo Motor Show in October,offering a fresh look at classic Jeepdesign themes such as theseven-bar radiator grill and prominent windshield.Treos designerswere challenged to look a deca
305、de or more into the future andextend the Jeepbrands customer base.The result is an urbanmobility vehicle that provides Jeepstyle and freedom in a clean,compact package.At the North American International Auto Show in Detroit in January,the Chrysler ME Four-Twelve,the Dodge Slingshot and the JeepResc
306、ue were presented.The quad-turbo,V-12 powered,mid-engine Chrysler ME Four-Twelve super car is the most advanced Chrysler ever built,and abrilliant example of the Chrysler Groups capabilities.Taking lessthan one year to complete from start to finish,the Chrysler Grouppartnered with some of the best i
307、n the business to assist in itsdevelopment.The Dodge Slingshot is an adventurous and fun sports car concept,designed to be adaptable,practical and affordable.TheSlingshot offers the genuine character of Dodge with a responsiveand fun-to-drive performance that can take it from 060 mph inabout 10 seco
308、nds while delivering up to 45 miles to the gallon.JeepRescue is designed for the most extreme situations andunforgiving conditions.JeepRescue is uniquely equipped forunequaled search and rescue service.Rescue not only hints atfuture design direction for a large Jeep,but builds on the ruggedheritage
309、of Jeepto forge a new dimension for the brand.|53522,6385686654779282,129229100180-7-17-1-15+2-7-10-16+5Unit sales 200311,00003/02unitsin%Totalof which:Passenger carsLight trucksMinivansSUVs2United StatesCanadaMexicoRest of the world1 Shipments(including leased vehicles)2 Including PT Cruiser and Pa
310、cificaThe Dodge Durango on a construction site in Rancho Cucamango,California35203 DCGB_E_050-053.qxd 28.02.2004 12.41 Seite 53Commercial VehiclesSignificantly higher operating profit.Despite a difficult businessenvironment with declining demand in many markets,in 2003 theCommercial Vehicles divisio
311、n was able to increase sales of trucks,buses and vans by 3%to 501,000 units.DaimlerChrysler thusstrengthened its position as the worlds largest supplier of Com-mercial Vehicles.Although the euro appreciated against the USdollar,revenues of 28.5 billion were just above the previous yearslevel.Adjuste
312、d to exclude currency-translation effects,revenuesrose by 7%.Operating profit was 855 million,compared to the prior years operating loss of 343 million,which included one-timecharges of 519 million.This substantial improvement in earningswas primarily due to the rigorous implementation of efficiency
313、-boosting programs in all business units.Freightliner successfully restructured.The Freightliner/Sterling/Thomas Built Buses business unit completed its turnaround programat the end of 2003,a year earlier than originally scheduled.As aresult of the restructuring measures initiated in 2001,material c
314、ostsand administrative expenses were substantially reduced and production efficiency was increased.Moreover,in the context offurther developing our business model we improved sales activitiesand increased our market penetration.Operating profit increased substantially to 855 million|Restructuring of
315、 Freightliner completed earlier than anticipated|Attractive new products boost competitiveness|Excellent response to newActros|Expansion of strategic partnerships in AsiaDivisions|Mercedes Car Group|Chrysler Group|Commercial Vehicles|Executive Automotive Committee|Services|Other Activities85528,517
316、1,0061,013500,445500,98195,0621,07735,923 1,2671,276Amounts in millionsUS$2003(343)28,4011,263959483,029485,40894,11120022003Operating profit(loss)Revenues Investments in property,plant and equipment Research and development expenditure Production(units)Unit sales Employees(Dec.31)35203 DCGB_E_054-0
317、57.qxd 28.02.2004 12.41 Seite 54In 2003,Freightliner sold 128,300 commercial vehicles,a 13%increase over the previous years figure.A total of 67,700(2002:65,400)Class 8 vehicles(15 metric tons gross vehicle weight andover)were sold under the Freightliner,Sterling and Western Starbrands in the United
318、 States.DaimlerChrysler thus strengthened itsleading position in the Class 8 segment in the NAFTA region,withmarket share increasing from 36%to 38%.Sales of Class 5 to 7vehicles were up by 18%to 42,600 units,and market share in theNAFTA region rose sharply to 26%(2002:23%).To secure its competitive
319、position,Freightliner invested heavily innew products and production facilities and launched several newvehicles in 2003.Sales of the medium-duty Freightliner BusinessClass M2 truck were 10,900 units.Introduced in 2002,it has nowbeen supplemented by a heavy-duty Class 8 version.The Sterlingbrand mea
320、nwhile introduced a modified chassis for heavy-dutytrucks,as well as additional variants of its medium-duty trucks.InNovember 2003,Thomas Built Buses launched a completely newschool bus in the North American market.And we have completedour product range in the NAFTA region with the launch of the Uni
321、mog,which has been successful in Europe for many decades.To achieve economies of scale,we are also offering powerful Mercedes-Benz engines in Freightliner and Sterling trucks.In 2003,32,600 trucks from the Freightliner/Sterling/Thomas Built Busesbusiness unit were equipped with Mercedes-Benz engines
322、.We areconvinced that as a result of its restructuring measures and with new products,Freightliner is well prepared to meet futurechallenges.Mercedes-Benz Trucks boosts sales despite continued marketweakness.The Mercedes-Benz Trucks business unit sold 110,500vehicles in 2003,an increase of 9%over th
323、e prior year.Continuedmarket weakness in Western Europe was more than offset by higher sales in Eastern Europe,Turkey,the Middle East and FarEast.We sold 28%(2002:21%)of the trucks produced in WesternEurope in countries outside the region.With sales of 59,300 units(2002:60,300)and a market share of
324、21%(2001:21%),Mercedes-Benz was again the leading brand in Western Europe for mediumand heavy trucks.Mercedes-Benz Trucks also maintained its leading position in Brazil and Argentina,with market shares of 34%(2002:34%)and 24%(2002:33%),respectively.Although conditions in the region remained difficul
325、t,the business unit sold23,800 vehicles(2002:21,800)in South America overall.Mercedes-Benz Trucks introduced several new products in 2003.The new Actros,which fully replaced its predecessor after an overlap period of just four months,has met with a very goodresponse.First presented in September 2003
326、,it has a completelyredesigned drivers cab,improved aerodynamics,a new axle andsuspension system and new engines with more power and lowerfuel consumption.As a result of its convincing overall concept,thenew Actros was given the“Truck of the Year 2004”award.In thesegment of light and medium-duty tru
327、cks,the newly developedAccelo was successfully introduced in South America.1,000 unitshave been sold since its launch in May 2003.With the goal of enhancing profitability beyond the year 2004,the Mercedes-Benz Trucks business unit has started a future-oriented program known as TruckPlus.In addition
328、to cutting costs,TruckPlus aims to boost unit sales and revenues,and to make even more effective use of our global development and productionnetwork,thus achieving the overall optimization of Mercedes-BenzTrucks business system.Enhanced efficiency in the components business.The businessunit DaimlerC
329、hrysler Powersystems,which combines all theGroups component operations for commercial vehicles,postedrevenues of 5.6 billion in 2003(2002:5.1 billion),despite thedeconsolidation of Mercedes-Benz Lenkungen GmbH following thesale of a 60%stake to ThyssenKrupp.This increase was primarilydue to higher s
330、ales to the other units within the DaimlerChryslerGroup,a consistent improvement in quality and the implementationof the STEP efficiency-boosting program.In 2003,DaimlerChrysler substantially increased the proportionof Detroit Diesel and Mercedes-Benz components in Freightliner andSterling vehicles.
331、To benefit from additional economies of scale,in 2003 we decided to develop a new engine family for heavy-dutytrucks to replace the four different engine series currently in use.The new generation of engines is scheduled to go into series pro-duction in 2007.|5554The Freightliner Coronado and the Fr
332、eightliner Business Class M2 at a warehouse in Portland,Oregon35203 DCGB_E_054-057.qxd 28.02.2004 12.41 Seite 55Divisions|Mercedes Car Group|Chrysler Group|Commercial Vehicles|Executive Automotive Committee|Services|Other ActivitiesDaimlerChrysler Buses and Coaches extends its leading position in th
333、e world market.Despite difficult markets,DaimlerChrysler Buses and Coaches increased sales of Mercedes-Benz,Setra and Orion complete buses and chassis by 13%to28,300 units,further extending its leading position in the worldmarket.In Western Europe,6,700 buses were sold(2002:5,900),representing a market share of 28%(2002:26%).Sales figureswere also up in South America,rising by 9%to 11,100 units.In
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