Mercedes 2003 Annual Report Download - page 69
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Please find page 69 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.Further expansion of business in China. The company has been
successful in Asian markets since Mitsubishi Motors was founded
in 1970. In China, MMC has played a pioneering role. Its products
are assembled in four assembly plants and two engine facilities
operated in close cooperation with local partners. As part of its
alliance with DaimlerChrysler, MMC further extended its commitment
in March 2003 by beginning production of the Pajero Sport SUV
at Beijing Jeep Corporation (BJC). It is the first Mitsubishi-branded
vehicle to be manufactured in China. MMC’s sales of 115,800
vehicles in China from April through December 2003 doubled com-
pared with the same period of 2002. Similarly high growth rates
are expected in the future, due in part to the Outlander SUV, which
has been produced in China since January 2004.
Marked increase in synergy gains expected from 2004. Within
the context of their strategic alliance, MMC and DaimlerChrysler
cooperate particularly closely in the area of developing common
major components. One result of these activities is that starting in
the year 2005, more than half of all new Mitsubishi models will
be based on platforms used for both Mitsubishi Motors and Chrysler
Group products.
The strategic cooperation includes the joint development of
“B-segment” cars, such as the European Mitsubishi Colt and the
smart forfour. These two cars will be produced at the NedCar
assembly plant in the Netherlands. Within the alliance with Daimler-
Chrysler, MMC will also re-enter the North American market with
Mitsubishi pickup trucks in the year 2005.
MMC, Chrysler Group and Hyundai Motor Company are working
together on the joint development and production of the next
generation of mid-size gasoline engines (1.8-2.4 liters). This project
foresees the combined production of more than 1.5 million units
annually worldwide. Production in Japan is likely to start in early
2005.
The aforementioned plans and positive effects of the cooperation
between MMC and DaimlerChrysler are overshadowed by the
negative developments at MMC in its 2003/04 financial year. This
necessitates a repeated thorough revision of MMC’s existing
mid-term planning and restructuring measures, which should lead
to a general improvement in its operating result and balance-sheet
structure.
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The crossover concept of the Mitsubishi Outlander combines the features of a sporty station wagon and an off-road vehicle
1,135
209
249
159
518
-1
-22
+6
+5
+5
Unit sales April – December 2003
1,000 03/02
units in %
Worldwide
of which: North America
Japan
Europe
Asia (excluding Japan) and other regions