Chrysler 2000 Annual Report Download - page 57

Download and view the complete annual report

Please find page 57 of the 2000 Chrysler annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 87

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87

PRODUCT INNOVATION
During the year CNH introduced upgraded and significantly
improved versions of many of its products, as well as several
completely new major products.
In the Agricultural Equipment segment:
❚With advancements in steering, diagnostics, track design,
comfort and serviceability, as well as the industry’s highest
horsepower rating, Case launched its new flagship line of
STX Series Steiger 4 wheel drive tractors in models ranging
from 275 to 440 engine horsepower. Case also launched
a new DX Series compact tractor for North America, and
at year-end the new M Series Loader Backhoes with five
new models ranging from 75 gross horsepower to 100
gross horsepower.
❚New Holland launched its new TM series tractor (105 to
160 engine horsepower) with a new suspended cab and
suspended front axle and fully electronic Power Command
transmission. New Holland also launched a new higher
horsepower Series 70A tractor (170 to 240 engine
horsepower) with fully locking differential front axles,
an Ultra Command Power Shift transmission and
programmable electro hydraulics for ease of use, and
a new Roll Bar Baler with innovative new and improved
features assisting in the pick-up, cutting, compaction,
baling and wrapping of hay and forage crops.
In the Construction Equipment business, Fiat-Hitachi
Construction Equipment launched a new articulated dumper,
New Holland Construction launched a new line of compact
wheel loaders and O&K extended its line of excavators with
several new models.
FINANCIAL ACTIVITIES
In 2000, revenues from financial activities accounted for
about 7% of the Sector’s net revenues.
In addition to prolonged weakness in the farm economy,
interest rate increases and losses incurred by diversified
business in North America (which are being curtailed overall)
penalized the Sector’s finance companies, which presented
declining results as compared to the prior period.
RESULTS FOR THE YEAR
CNH Global revenues in 2000 totalled 10,770 million euros,
compared with 5,246 million euros for New Holland alone in
1999 (9,952 million euros when Case revenues are considered
on a pro forma basis for 1999). The increase in pro forma
revenues (+8.2%) is mainly due to the rising value of the U.S.
dollar against the euro, the Fiat Group’s functional currency.
If expressed in dollars, pro forma revenues would have been
down from the previous year.