Good results (off the track) from Mercedes

Despite the difficult economic conditions at the moment the DaimlerChrylser empire has announced impressive first quarter results for 2003 with the firm announcing operating profits of 1.4bn Euros, having sold one million vehicles in the three-month period. Mercedes sold 266,900 passenger cars and made a profit of 688m Euros, increasing its share of the premium car market to an estimated 38%. Chrysler on the other hand sold 615,700 vehicles although this was around 10% down on the same period last year because of the softening of the US market. Despite this the division made a profit of 152m Euros. The company is predicting that it will this year match its full-year sales figures from 2002, despite the difficult economic situation and, thanks to cost-cutting, will make a bigger profit.

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