DaimlerChrysler Group with Improved Earnings in the First Quarter of 2002

Date 2002/4/26 0:00:00 | Topic: Liberty

Jeep Liberty continued its strong showing with U.S. sales of almost 35,000 units in the first quarter

DaimlerChrysler sold 1.1 million vehicles worldwide in the first quarter of this year. Adjusted for changes in the consolidated Group, DaimlerChrysler's Revenues increased by 7% to $32.2 billion in the first quarter.

At the end of the first quarter, DaimlerChrysler employed a workforce of 372,084 employees. The prior year's figure (410,451) included the employees of Adtranz (about 19,600) and of TEMIC (about 6,000). There were also workforce reductions due to the implementation of Turnaround Plans, particularly at Chrysler Group and Freightliner.

Due to uncertainties regarding future economic developments DaimlerChrysler had been cautious in its initial planning for 2002. In the first quarter, markets generally developed better than had been expected. There are now increasing signs that this positive trend might continue. But there is still a lot of uncertainty as to whether and to what extent the unstable political situation in some regions and a potential labor dispute in Germany might have a negative impact on the beginnings of economic recovery.

Assuming that the US market continues its positive trend, Chrysler Group may do better than its targeted breakeven, and could achieve a positive result for the year.

Jeep Liberty continued its strong showing with U.S. sales of almost 35,000 units in the first quarter, and U.S. sales of the new Ram Pickup increased by 10% from the prior year to 93,700 units. However, in the US minivan and passenger car sales decreased 5% and 10% in the quarter versus the prior year.

Unit Sales (factory shipments) increased by 7% to 704,800 vehicles in the first quarter of 2002, reflecting growing dealer confidence in the Chrysler Group. In the US, Chrysler Group had a 59-day supply of vehicles, which represents a low level.

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