Mercedes 2008 Annual Report Download - page 9

Overview of the Group |Chairman’s Letter |5
2008 was a year with two very different stories for Daimler. Our first-half results
were very good. We achieved record unit sales of automobiles, vans and buses.
That demonstrates your company’s capabilities under “normal circumstances.”
In the second half of the year, circumstances were anything but normal. The
automotive industry around the world was hit hard by the financial crisis – which
quickly became a global recession. We felt its effects on our unit sales, revenue
and earnings in the third and fourth quarters, especially at our car division. In all
of our businesses, we achieved a net profit of €1.4 billion in 2008. EBIT from
ongoing operations (excluding Chrysler LLC) amounted to €6.2 billion.
What were the most important developments in our divisions?
Mercedes-Benz Cars performed extremely well in the first two quarters. No other
premium brand grew as fast during that period as the brand with the star. In the
second half of the year, unit sales slumped as a result of the worldwide collapse
of car markets. For the year as a whole, however, we gained market share in key
markets. The Mercedes-Benz S-Class defended its worldwide leadership in the
luxury segment. And for smart, 2008 was the best year ever.
Daimler Trucks achieved modest increases in unit sales and revenue. In 2008
it was, once again, the world’s biggest producer of heavy- and medium-duty trucks.
In Europe and Latin America, Mercedes-Benz Trucks even set new records for unit
sales. With the newly launched Actros, we also set new standards for economy,
environmental compatibility and safety. In North America, we realigned our busi-
ness operations to adapt to the market reality of the region. Trucks Asia surpassed
its prior-year unit sales despite difficult conditions. And we expanded our presence
in major growth regions – especially in Russia and India.