Mercedes 2003 Annual Report Download - page 10
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Please find page 10 of the 2003 Mercedes 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.Essentials |Chairman’s Letter | Board of Management | Business Review | Outlook | DaimlerChrysler Shares | DaimlerChrysler Worldwide
This is exactly what we are doing through our Executive Automotive Committee, the
central steering committee for our worldwide automotive business. And the EAC has
already achieved a great deal.
Our long-range plans for products and components are being implemented. At present,
we are preparing a long-range plan aimed at standardizing production processes, so that
quality can be enhanced while costs are reduced.
In addition, throughout the Group, we standardize large numbers of parts and components
and use them 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 the
world. 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 financial
services 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 approach demands that we always do what is necessary to compete in
the short-term while also maintaining long-term competitiveness.
That is why we are investing €38 billion over the next three years to secure
DaimlerChrysler’s future success. That is why we will place around 50 exciting new
products on the road during the same period.
We have the resources to further develop our business – notwithstanding all of the
indisputable operative challenges with which we are presently faced.
Of course, we have not yet achieved all of our targets. When we measure DaimlerChrysler’s
level of development to date against our 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 only
partially able to avoid this trend and I would like to thank you, the shareholders, for your trust
and 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.