Mercedes 2002 Annual Report Download - page 57

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Other Activities |51
Product offensive ensures future growth
In November 2002, MMC launched the new Colt com-
pact car in the Japanese market. The initial sales
phase for this important new model has to date been
successful. After one month of sales, more than 15,000
vehicles had been ordered. The introduction of the
new Colt marked the beginning of an extensive product
offensive, in which the Mitsubishi brand is to be
redefined worldwide with a new distinctive design to
attract additional customers. MMC plans to launch some
12 new models in various versions in North America,
Europe, Asia and other markets between 2002 and
2007.
Intensified cooperation in the alliance
On September 20, 2002, the DaimlerChrysler Super-
visory Board and the Board of Mitsubishi Motors agreed
to further intensify the cooperation between the two
companies. As a result, on January 6, 2003, MMC spun
off its commercial-vehicle division into a separate com-
pany known as Mitsubishi Fuso Truck & Bus Corporation
(MFTBC). DaimlerChrysler intends to purchase 43% of
MFTBC in March 2003 for approx-imately 1760 million.
Mitsubishi Group companies (among them Mitsubishi
Corporation, Mitsubishi Heavy Industries, Bank of Tokyo
Mitsubishi) will acquire 15% of the new company for
approximately 1265 million. The remaining 42% will be
retained by MMC. The new company is expected to
generate substantial cost and efficiency advantages
for both DaimlerChrysler and MFTBC through joint
purchasing and sales organizations, consolidation of
investments, and the joint development of vehicle
chassis, powertrains and other components.
The development of shared platforms also intensified in
2002. The Colt model introduced last November in
Japan is based on a common B-segment platform that
will also be used in the four-seater smart in 2004.
Similar projects are under way between MMC and Chrysler
Group for C- and D-segment vehicles. In general, these
projects will generate synergies for MMC and Daimler-
Chrysler in research and development, procurement and
production (see pages 42-43).
In September 2002, MMC also signed contracts with
DaimlerChrysler dealers in Canada to facilitate its entry
into the Canadian market. A similar approach was taken
for Mexico in January 2003, and is planned for South
Africa and Eastern Europe. DaimlerChrysler has also
begun to sell smart cars in Japan through MMC dealers.
MMC and DaimlerChrysler have also entered into
a production partnership in China, whereby MMC will
manufacture the Pajero Sport and the Outlander at
Beijing Jeep in China.
The Mitsubishi Colt, launched in November 2002, was the third-best selling
car in Japan in the following month.