Mercedes 2002 Annual Report Download - page 15

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Asia and in Eastern Europe. Weighted for each country’s
share of the Group’s revenues, there was economic
growth in the markets in which DaimlerChrysler operates
of 1.8%, which was better than the 1.2% of 2001 but still
well below the long-term trend of slightly more than 3%.
During the course of the year, the euro appreciated
in value by 19% against the US dollar, by 7% against the
British pound and by 8% against the Japanese yen.
Difficult markets worldwide
The competitive situation in the international auto-
motive industry intensified in 2002, for both passenger
cars and commercial vehicles in nearly all market
segments.
Supported by high sales incentives and attractive
financing packages, total unit sales in the United States
of 17.1 million passenger cars and commercial vehicles
were still at a high level (2001: 17.5 million). However
demand for passenger cars in Japan and Western
Europe was weak once again, although some stabilizing
effects came from the strong market in the United
Kingdom and continuing strong demand for diesel vehi-
cles in Western Europe. The size of the overall market
in Germany decreased for the third year in succession.
Demand for passenger cars in South America declined
substantially, and there was no significant stimulus from
the markets of Eastern Europe. The only growth region
was Asia excluding Japan, with significantly higher sales
in nearly all markets.
Developments in the commercial vehicle sector were
marked by the continuing poor condition of markets
in North America, South America and Western Europe.
After a slump in recent years, demand for heavy and
medium trucks in North America was still at a low level,
despite purchases brought forward due to new exhaust
emission regulations in the United States. In Western
Europe there was a sharp downturn in demand for light
and heavy-duty commercial vehicles.
2001
3
2002
3
In millions
DaimlerChrysler Group
Mercedes Car Group 1
Chrysler Group 1
Commercial Vehicles 1
Services 1
Other Activities 1
DaimlerChrysler Group 1
6,854
3,020
1,317
176
964
747
5,829
(1,318)
2,961
(2,183)
51
578
205
1,345
Operating Profit
1 Excluding one-time effects; including one-time effects see table on page 68.
Business Review |9
2002
US $
7,18 6
3,166
1,381
185
1,011
783
6,112
25
50
75
100
125
150
175
Consolidated Revenues
´02´01´00´99´98
in billions of 3
Other markets
USA
European Union
2001
3
2002
3
In millions
DaimlerChrysler Group
Mercedes Car Group
Chrysler Group
Commercial Vehicles
Services
Other Activities
149,583
50,170
60,181
28,401
15,699
2,723
152,873
47,705
63,483
28,572
16,851
4,507
Revenues
2002
US $
156,838
52,603
63,100
29,778
16,460
2,855
Note: The chapters “Business Review”, “Analysis of the Financial Situation”
and “Outlook” correspond to the management report of the Daimler-
Chrysler Group, which is based on the consolidated financial statements
compiled according to United States Generally Accepted Accounting
Principles (US GAAP).