Chrysler 2004 Annual Report Download - page 73

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Iveco
share of the heavy-vehicle segment was about the same as
in 2003 (11.3%).
The Irisbus Group increased its penetration of the Western
European market by 0.7 percentage points compared with
2003, reaching 25.8%, as the net result of increases in Italy
(+1 percentage point) and Spain (+1.7 percentage points)
and decreases in Great Britain (-0.6 percentage points) and
France (-2.6 percentage points). There was no significant
change in market share in Germany.
Iveco sold 162,300 vehicles worldwide (+10.9% over 2003). The
Sector’s licensee associated companies shipped approximately
57,500 units (+16%). In Western Europe, Iveco sold about
129,200 vehicles, or 8.3% more than in 2003.
This positive sales performance reflects favorable conditions
in all markets, particularly those of Western Europe.
The Irisbus Group sold a total of 8,262 vehicles, slightly down
(-0.5%) from the previous year.
Iveco’s engine production increased by 14.9% to about 435,000
units (379,000 units in 2003). Shipments to other Fiat Group
Sectors (Fiat Auto and CNH) were especially strong. Sales to
noncaptive customers totaled more than 50,000 engines (about
46,000 units in 2003).
In China, Naveco, a 50-50 joint venture with the Yueijin Group,
produced and sold about 15,000 light vehicles (+2.4%).
In Turkey, the Otoyol licensee sold 5,263 vehicles (+19.6%),
while Iveco’s Indian licensee, Ashok Leyland, manufactured
and shipped 52,227 units (+14.3% compared with 2003).
FINANCIAL AND SERVICE ACTIVITIES
In 2004, the finance companies of the Iveco Finance Group,
which provide financing and leasing services to support the
sales of Iveco products in Western Europe, signed 27,021
contracts to finance sales of new commercial vehicles (22,533 in
2003) and 7,271 contracts for used commercial vehicles, busses,
trailers and semitrailers, for a total of 34,292 new transactions.
Iveco Finance provided funding for 25.2% of the vehicles sold by
the Sector (22% in 2003). A total of 103,080 financing contracts
were outstanding at the end of 2004 (103,345 at December 31,
2003) with a total net value of 2,575 million euros (about 2,300
million euros at the end of 2003), including 333 million euros in
dealer financing contracts (about 310 million euros in 2003).
The pool of rental vehicles operated by the Transolver Services
companies numbered about 3,770 units at the end of 2004, with
155 new contracts signed during the year.
The Sector’s operations that provide rental and financing
services to Iveco's distribution network and retail customers
Sales Performance –Units Sold by Product Segment
(in thousands of units) 2004 2003 % change
Heavy 37.6 32.9 14.1
Medium 21.1 19.3 9.1
Light 91.0 81.5 11.6
Busses (*) 8.6 8.6 –
Divisions (**) 4.0 4.0 –
Total units sold 162.3 146.4 10.9
(*) Irisbus + Iveco's Bus Division.
(**) Astra, Defense and Firefighting Vehicles.