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DaimlerChrysler profit dips, to launch more models

DaimlerChrysler India's profit dipped by over 10% in 2003 to Rs 34 crore largely on account of exchange rate fluctuation. The company plans to launch more models and upgrades this year.

india Updated: Jan 14, 2004 21:53 IST

Luxury car maker DaimlerChrysler India on Wednesday said its profit dipped by over 10 per cent in calendar 2003 even as it would launch more models and upgrades this year.

The net profit of the company dipped to Rs 34 crore in 2003 over Rs 38 crore in the previous year, which was largely on account of exchange rate fluctuation. However, sales grew by 30 per cent to 1,581 units in 2003 over 1,208 units in the previous year, DaimlerChrysler India chairman Helmut Petri said.

"Asia is very important market for us and India is very strategic and has the fastest growth rate after China. We will launch new products and upgrades here," Petri said.

DaimlerChrysler also launched super luxury sedan 'Maybach' on Wednesday which would come as completely buit unit (CBU) and sport a price tag of staggering Rs 5 crore.

Asked whether the company would enter the domestic commercial vehicle market, DaimlerChrysler India CEO Hans Michael Huber said: "we will reach to a decision by the middle of 2004. If the idea makes sense, we may think of it".

The company has already tested road worthiness of one of its commercial vehicle 'Atros'.

First Published: Jan 14, 2004 16:45 IST