Mercedes 1999 Annual Report Download - page 37

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MERCEDES-BENZ & SMART
31
The Mercedes-Benz Passenger Cars & smart division
is the world’s leading manufacturer of high quality
passenger cars. Our products set themselves apart from
those of our competitors through innovative technology,
the highest levels of safety and comfort, and pioneering
design. In 1999 we set new records for sales, revenues
and operating profit. This success was due to the
wide range of vehicles on offer: The most attractive
and most diverse range of models Mercedes-Benz has
ever presented. Moreover, the smart recovered from
a difficult launch to become a market leader in the
micro-car segment.
BRAND MANAGEMENT A KEY FACTOR. Competition on the
global passenger car market continues to heat up. Along with
innovative technologies, brand management has become a
decisive competitive factor. For these reasons we have worked
hard on the continued development of the Mercedes-Benz
brand over the past several years. As a result Mercedes-Benz
is represented in nearly all premium market segments.
The brand’s vehicles are noted for innovative technology,
the highest levels of comfort and safety, and pioneering
design. Thanks to our product offensive and the pursuit of
a consistent price/value strategy, sales of Mercedes-Benz
passenger cars have risen from 600,000 to over one million
units in a period of only four years.
In 1998 we introduced a completely new brand, with
completely new technology, into a completely new market
segment. The two-seater smart City coupe is innovative and
unique, a car for individualists. What’s more, it offers trend-
setting solutions to problems of urban mobility and optimum
use of resources.
MARKETS DEVELOPED POSITIVELY. Overall, trends in the key
markets ofr the Mercedes-Benz Passenger Cars & smart
division were favorable trend in 1999. New registrations of
passenger cars in Western Europe were higher than in 1998.
Mercedes-Benz and smart market segments profited from
this development. In North America, sales in the premium
market segments again surpassed the previous year’s high
levels, primarily as a result of generally favorable economic
conditions. In contrast, the economic crisis in South America
held back demand for passenger cars throughout the year.
The markets in Japan and the emerging Asian economies
registered only slight improvement, while Eastern Europe
and the Middle East countries remained weak.
Operating Profit
Revenues
Investments in Property,
Plant and Equipment
R & D
Production (Units)
Sales (Units)
Employees (Dec. 31)
2,722 2,703 1,993
38,367 38,100 32,587
2,244 2,228 1,995
2,057 2,043 1,930
1,097,142 947,517
1,080,267 922,795
99,459 95,198
99
US $
99 98
amounts in millions € €