DaimlerChrysler to hold steady

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STUTTGART, Germany – DaimlerChrysler expects its commercial vehicle division to reach sales and revenue numbers enjoyed in 1999, even though the North American market is expected to drop, chairman Juergen Schrempp said at the company’s annual shareholder meeting.

The Commercial Vehicles division, which includes Mercedes-Benz, Freightliner, Sterling, Setra, and Thomas Built Buses, increased unit sales of trucks, vans and buses by seven per cent in the latest quarter – when compared to the first quarter of 1999 – to 136,100 units. Revenues rose by 11 per cent to US $6.5 billion. Operating profit was US $236 million, marking an increase of 34 per cent when compared to $175 million in first quarter 1999.

Numbers in North America are not expected to reach 1999 levels, he added.

For more information, surf to www.daimlerchrysler.com. n

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