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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of September, 2000
DAIMLERCHRYSLER AG
(Translation of registrant's name into English)
EPPLESTRASSE 225, 70567 STUTTGART, GERMANY
(Address of principal executive office)
[Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F.]
Form 20-F X Form 40-F
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[Indicate by check mark whether the registrant by furnishing
the information contained in this Form is also thereby furnishing
the information to the Commission pursuant to Rule 12g3-2(b) under
the Securities Exchange Act of 1934.]
Yes No X
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[If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82- ]
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This report on Form 6-K is hereby incorporated by reference in the registration
statement on Form F-3 of DaimlerChrysler North America Holding Corporation
(Registration Statement No. 333-11306)
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DAIMLERCHRYSLER AG
FORM 6-K: TABLE OF CONTENTS
1. Press release of DaimlerChrysler AG, dated September 27, 2000,
providing an overview on current business trends
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1
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DAIMLERCHRYSLER
Press Information
September 27, 2000
Contact:
Michael Pfister Phone +49-711-17-93635
Jack Ferry Phone +1-248-512-2729
DAIMLERCHRYSLER: OVERVIEW ON CURRENT BUSINESS TRENDS
o NET INCOME AND EARNINGS PER SHARE--INCLUDING ONE-TIME EFFECTS--TO BE
SIGNIFICANTLY HIGHER THAN LAST YEAR
o OPERATING PROFIT, INCLUDING ONE-TIME EFFECTS, TO REACH LAST YEAR'S LEVEL;
WITHOUT ONE-TIME EFFECTS IN THE RANGE OF 7 BILLION EUROS ($6.16 BILLION)
o BUSINESS TRENDS REMAIN VERY POSITIVE AT MERCEDES-BENZ PASSENGER CARS &
SMART; EARNINGS TO EXCEED LAST YEAR'S LEVEL
o EARNINGS UP AT COMMERCIAL VEHICLES DESPITE SLUGGISH NORTH AMERICAN MARKET
o CHRYSLER GROUP POSTS NEGATIVE EARNINGS IN 3RD QUARTER DUE TO DIFFICULT
MARKET SITUATION AND NEW PRODUCT STARTUPS; REGAINS POSITIVE RESULTS IN THE
4TH QUARTER
o DAIMLERCHRYSLER SERVICES EXPANDS GLOBAL PRESENCE; EARNINGS SUPPRESSED
MAINLY BY RESIDUAL VALUE DEPRECIATION IN THE U.S. AND INCREASED INTEREST
RATES
STUTTGART/AUBURN HILLS - In order to clarify the various estimates of
DaimlerChrysler's earnings situation, the company is providing an overview of
current business trends before the official third quarter report, to be released
on October 26, 2000.
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The market situation in North America will have a significant impact on the
company's results, as already indicated in the half-year report. For the year
2000 as a whole, DaimlerChrysler forecasts operating profit -- including
non-recurring income and expenditure -- on the level of the year 1999. Net
income and earnings per share are expected to be significantly higher than last
year's figures. Adjusted for one-time items, operating profit for the year 2000
will be in the range of 7 billion euros ($6.16 billion) (1999 adjusted: 10
billion euros/$8.8 billion).
MERCEDES-BENZ PASSENGER CARS TO POST RECORD FIGURES FOR SALES, REVENUES AND
EARNINGS IN 2000
Business trends at Mercedes-Benz Passenger Cars remained very positive in the
third quarter. Global sales at the division bucked the market trend, rising
4.5 percent through August, to 676,500 units. In Germany, where the market
has shrunk by 12 percent, Mercedes-Benz boosted its market share by 13
percent. In the U.S., the division is set to sell more than 200,000 vehicles
this year for the first time. The high figures recorded in 1999 for earnings,
sales and revenues will all be surpassed. A few days ago, the 500,000th
A-Class rolled off the assembly line in Rastatt. Sales of the new C-Class are
rising at an unprecedented rate. Additional production capacity will be
created in South Africa and Brazil to meet the high demand. Sales of the
M-Class rose 30 percent in the first eight months of the year. Despite being
two-thirds of the way through its product-cycle, the E-Class remains the
clear leader in its segment. Sales of the S-Class rose 41 percent through
August and, with a market share of 50 percent, it is the dominant vehicle in
the market's premium segment.
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SMART ATTAINS CULT STATUS AND WILL TOP 100,000 UNIT SALES THIS YEAR
Sales of the smart rose 67 percent to 69,500 units through August. In Germany,
the smart is the number one vehicle in its segment. Although the smart is
officially sold in only nine European countries, it can already be found on the
roads of 57 countries around the world. Studies show that the value of the brand
has benefited considerably from the high recognition of the vehicle and
increased customer identification with the smart.
COMMERCIAL VEHICLES: NEW ACQUISITIONS STRENGTHEN GLOBAL POSITION
The Commercial Vehicles division is expecting to post results in excess of the
high figures recorded in 1999 despite the difficult market situation in North
America.
The acquisition of Western Star marks another important step in
DaimlerChrysler's multi-brand strategy for trucks, and also established
DaimlerChrysler as a full-range bus supplier in North America. In addition, the
acquisition of Detroit Diesel makes DaimlerChrysler the world's leading
manufacturer of heavy-duty and mid-range on highway diesel engines. The planned
50-50 venture with Hyundai Motors will not only give DaimlerChrysler a foothold
in Korea, one of the most important markets in Asia, but also will open up a
range of promising opportunities in other markets, such as Europe and the U.S.
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4
CHRYSLER GROUP DEFENDS MARKET SHARE DESPITE SIGNIFICANT LAUNCHES AND INTENSE
COMPETITION
As announced at mid-year, the Chrysler Group responded vigorously to the climate
of intense competition in the North American market. Also, during continuing
changeover to new models Chrysler Group increased discounts. This marketing
strategy enabled the Chrysler Group to keep its strong sales position in North
America, while reducing prior model inventories. Combined with higher interest
rates, higher fuel prices and the start-up costs for the new models, these
discounts and the intense competition in North America mean the Chrysler Group
will post an operating loss of roughly 600 million euros ($522 million) for the
third quarter of this year. Going forward the launch of the new models will
enable the Chrysler Group to achieve a reduction in sales and marketing costs.
For the full year the Chrysler Group will post a profit of over 2 billion euros
($1.74 billion). Volume from 2000 calendar year launches as well as new models
planned for the coming years (Jeep(R) Cherokee and New Dodge Ram launches in
2001 alone) are expected to lead to an improvement in earnings and competitive
position.
The Chrysler Group has launched a broad range of immediate measures designed to
boost earnings. These include utilizing the full potential of the entire
supplier chain and increasing efficiency in all major processes and functions.
Every platform and product team and function has launched immediate action plans
to enhance revenue, reduce near term costs and establish benchmark objectives.
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Activity examples include:
o A streamlined process for lease management and off-lease vehicle disposal
is already in place and will quickly improve leasing volumes to competitive
norms.
o Product investment and variable cost targets have already been recalibrated
to reflect a zero-pricing environment.
o Competitive bidding has been substantially increased to ensure benchmark
investment and variable cost performance.
o Targeted market programs and vehicle packages are underway to enhance
revenue quality.
o PT Cruiser volume expansion is being examined for acceleration.
o Automotive Council activity regarding "Best Practice, Best Process, Best
Price" benchmarking is jointly underway.
o Launch timing and acceleration is under additional review in light of the
highly successful Windsor minivan launch practices.
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DEBIS STRENGTHENS ITS GLOBAL POSITION AS A FINANCIAL SERVICES COMPANY
Represented in 67 countries, including all the world's major markets, debis
Financial Services is the fourth-largest non-bank financial services provider in
the world. The company focuses on financing for leasing and sales of
DaimlerChrysler products as well as on fleet management.
In North America, the high discounts awarded on new vehicles from the Chrysler
Group and the decline in the US truck market have had a negative effect on the
residual value of leased vehicles. This will have a negative effect on North
American earnings for financial services activities. The company will implement
a range of concrete measures designed to counter this trend, including limiting
the proportion of new vehicles leased with respect to certain models, and
intensified marketing activities to help boost used vehicle sales.
OUTLOOK
The new and innovative vehicles that DaimlerChrysler will launch in the coming
months and years will improve the company's global competitive position. In the
medium and long term, implementation of the measures outlined above, and a more
extensive exchange of components, will enable DaimlerChrysler to achieve a
further substantial improvement in its market position. With stakes in
Mitsubishi Motors and Hyundai Motor, DaimlerChrysler has secured a unique
position in the worldwide automotive industry.
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DaimlerChrysler will publish the final figures for the third quarter on October
26, 2000.
On October 9th, DaimlerChrysler will announce in a press conference its
e-business strategy and describe its plan for bundling its e-business
activities.
Dollar values are converted from euro values with the exchange rate of 1
euro=USD 0.88 based on the closing exchange rate, September 26, 2000.
This press release contains forward-looking statements based on beliefs of
DaimlerChrysler management. When used in this release, the words "anticipate,"
"believe," "estimate," "expect," "intend," "plan," and "project" are intended to
identify forward-looking statements. Such statements reflect the current views
of DaimlerChrysler with respect to future events and are subject to risks and
uncertainties. Many factors could cause the actual results to be materially
different, including, among others, changes in general economic and business
conditions, changes in currency exchange rates and interest rates, introduction
of competing products, lack of acceptance of new products or services and
changes in business strategy. Actual results may vary materially from those
projected here. DaimlerChrysler does not intend or assume any obligation to
update these forward looking statements.
ON THE INTERNET
Visit DaimlerChrysler's Media Services Web Site at
http://www.media.daimlerchrysler.com for additional DaimlerChrysler news.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
DaimlerChrysler AG
By: /s/ ppa. HANS-GEORG BRUNS
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Name: Dr. Hans-Georg Bruns
Title: Vice President
Chief Accounting Officer
By: /s/ i. V. FRIEDRICH SIENER
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Name: Dr. Friedrich Siener
Title: Director
Date: September 28, 2000
