German, Swiss & Austrian Corporate Conference 2012May 2012
Agenda 1 Q1-2012 Results 2 Daimler Strategy 3 Mercedes-Benz Cars 4 Daimler Trucks                        2
Highlights in Q1 2012        Group sales                                     502,000         (+9%)        Sales record at ...
Key financials- in billions of euros -                                                           Q1 2011   Q1 2012      Re...
Solid net industrial liquidity- in billions of euros -                                   Free cash flow industrial busines...
Key balance-sheet figures- in billions of euros -           Daimler Group         Dec. 31, 2011   Mar. 31, 2012           ...
Mercedes-Benz CarsMercedes-Benz Cars: EBIT almost at prior year’s level- in millions of euros -                           ...
Mercedes-Benz CarsBalanced sales structure- Unit sales in thousands -                              338       311          ...
Mercedes-Benz CarsUnit sales increase mainly driven by C-Class- Unit sales in thousands -                                 ...
Mercedes-Benz CarsProduct highlights   New A-Class                                  New B-Class   E 300 BlueTEC HYBRID    ...
Daimler TrucksDaimler Trucks: EBIT affected by product offensive and slowstart in Latin America- in millions of euros -   ...
Daimler TrucksSales increase driven by business in NAFTA and Asia- in thousands of units -                             108...
Daimler TrucksIncoming orders on unit sales level- in thousands of units -        119        15                   107     ...
Daimler TrucksProduct highlights Mercedes-Benz Actros                                             BharatBenz trucks       ...
Mercedes-Benz VansMercedes-Benz Vans: EBIT on continued high level- in millions of euros -                                ...
Mercedes-Benz VansSlight decrease in unit sales- Unit sales in thousands -       54.0                              51.20.7...
Mercedes-Benz VansProduct highlights                         New city van Citan                                           ...
Daimler BusesDaimler Buses: Repositioning initiated- in millions of euros -                                              -...
Daimler BusesDecrease in unit sales mainly in Brazil- Unit sales in thousands -        7.7        0.6        1.6          ...
Daimler BusesRepositioning of bus business in Europe and North America toreduce break-even level                      Incr...
Daimler Financial ServicesDaimler Financial Services: Stable earnings development- in millions of euros -                 ...
Daimler Financial ServicesStable contract volume- in billions of euros -        71.7                 71.6         9.9     ...
Assumptions for automotive markets 2012      Car      Global           Growth of approximately 4%     markets   U.S./Asia ...
Sales outlook FY 2012          • Sales increase exceeding market growth          • Launch of six attractive new products i...
2012 targets for EBIT from ongoing business                           EBIT in the magnitude of 2011                       ...
Agenda 1 Q1-2012 Results 2 Daimler Strategy 3 Mercedes-Benz Cars 4 Daimler Trucks                        26
Daimler‘s identity as an automotive pioneer is fueled byleading technologies, strong brands and global reach         Techn...
Daimler corporate strategy: Four central themes  Strengthen core business  Develop new markets  Lead in „Green“ and Safety...
Agenda 1 Q1-2012 Results 2 Daimler Strategy 3 Mercedes-Benz Cars 4 Daimler Trucks                        29
Leadership -- a state of mind                 2         3    1            Mercedes-Benz 2020                              ...
Four levers of Mercedes-Benz 2020        Brand                       Product        Sales                         Profit  ...
Brand: Development of brand value and perception  Product reliability AMS Best Cars 100  90                               ...
Brand: “The Best or Nothing”                     Mercedes-Benz is the most valuable premium automotive brand              ...
Products: Ongoing success of our C-Class                                           34
Products: SUV Offensive - Our new GLK-Class                                              35
Products: SUV Offensive - Our new M-Class                                            36
Products: SUV Offensive - Our new GL-Class                                             37
Products: Our new SL-Class                             38
Products: The new A-Class                            39
Products: Mercedes-Benz Concept Style Coupé                                              40
More to come: At least 10 additional model series by 2015CompactMid-SizeFull-SizeLargeSUV                                 ...
Products: Delivering on responsibility ML 250 BlueTEC 4MATIC                   E 300 BlueTEC HYBRID   SLS AMG E-CELL      ...
Products: CO2- Emissions in 2011                                          300                                             ...
Sales: At least 1.6 million cars in 2015 – sales leadership in 2020Mercedes-Benz sales forecast[million units – without sm...
Profit: Common vehicle architectures and module strategyenable efficient use of resources                              Ele...
Profit: Strong improvement at New Generation CompactCars, S-Class and C-ClassEBIT Lifecycle Performance Development       ...
Profit: Mercedes outperforms competition in initial qualityand long term quality dependabilityJ.D. Power Initial Quality S...
Profit: By 2015 two flexible manufacturing networks will beestablished                                                    ...
We follow new paths, but not at the expense of old strengths…Established         Luxury               Combustionmarkets   ...
…to deliver on our strategic targets ▸ Sales leadership   Milestones: >1.5 in 2014 / >1.6 in 2015 ▸ Technology leadership ...
Hungry for more.                   51
Agenda 1 Q1-2012 Results 2 Daimler Strategy 3 Mercedes-Benz Cars 4 Daimler Trucks                        52
The new Actros: „Truck of the Year“                                      53
Further Actros models launched in 2012 and 2013                                                  54
Daimler TrucksDaimler Trucks position: Excellent coverage of Triadand Brazil, increasing RIC presence                     ...
BharatBenz products will cover the complete Indian truckrange and service all customer applications                       ...
Opening of Daimler India Commercial Vehicles truck plant inChennai in April 2012                                          ...
Daimler TrucksChina: Daimler Trucks obtained economic interest in theJV with FotonSigning        MofCom                   ...
Regional Champions: Auman Trucks in China                                            59
Global Excellence: Our new engines   Management 1 of Cycles              Effectiveness                                 &  ...
Over 50% of the cost of a modern truck is the powertrainIncreasing requirements     High share within the value chain     ...
Daimler Trucks implemented a global heavy-duty engineplatformUSA                                                          ...
…and now also introduced of thenew medium-duty Engine PlatformEngines for all truck and bus applications                  ...
The New Engine GenerationRequirements set by global legislations, customer and market demands                             ...
Appendix           65
Group EBIT in Q1 2012- in millions of euros -                                                   82               -514     ...
Special items affecting EBIT- in millions of euros -                                                                      ...
EBIT from ongoing business- in millions of euros -                                             Q1 2011      Q1 2012       ...
Daimler Financial ServicesNet credit losses* decreased significantly                                                      ...
DisclaimerThis document contains forward-looking statements that reflect our current views about future events. The words ...
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Daimler AG „German, Swiss & Austrian Corporate Conference 2012“

  1. 1. German, Swiss & Austrian Corporate Conference 2012May 2012
  2. 2. Agenda 1 Q1-2012 Results 2 Daimler Strategy 3 Mercedes-Benz Cars 4 Daimler Trucks 2
  3. 3. Highlights in Q1 2012 Group sales 502,000 (+9%) Sales record at Mercedes-Benz Cars 338,000 (+9%) Strong sales increase at Daimler Trucks 108,000 (+21%) Revenue € 27 billion (+9%) EBIT from ongoing business € 2.2 billion (+3%) Net profit € 1.4 billion (+20%) World premiere of new A-Class and introduction of new SL Opening of new plant for compact cars in Kecskemét Opening of our new BharatBenz plant in India 3
  4. 4. Key financials- in billions of euros - Q1 2011 Q1 2012 Revenue 24.7 27.0 EBIT as reported 2.0 2.1 from ongoing business 2.1 2.2 Net profit 1.2 1.4 Earnings per share (in euros) 0.99 1.25 Net liquidity industrial business (2011: year-end) 12.0 10.1 Free cash flow industrial business -0.5 -2.0 4
  5. 5. Solid net industrial liquidity- in billions of euros - Free cash flow industrial business Q1 2012: €-2.0 billion 12.0 0.3 -2.0 -0.3 0.1 10.1 Net liquidity Earnings and Working capital Tognum/Bergen Other Net liquidity industrial other cash flow impact and Foton industrial 12/31/2011 impact 3/31/2012 5
  6. 6. Key balance-sheet figures- in billions of euros - Daimler Group Dec. 31, 2011 Mar. 31, 2012 Equity ratio 26.3% 26.5% Gross liquidity 11.9 13.6 Industrial business Equity ratio 46.4% 45.4% Net liquidity 12.0 10.1 6
  7. 7. Mercedes-Benz CarsMercedes-Benz Cars: EBIT almost at prior year’s level- in millions of euros - - 36 9.3%* Sales increase 8.4%* 1,288 Foreign exchange rates 1,252 Temporary regional pricing Higher expenses for new technologies, new products and additional capacity Discounting of non-current provisions with lower interest rates EBIT EBIT Q1 2011 Q1 2012* Return on sales 7
  8. 8. Mercedes-Benz CarsBalanced sales structure- Unit sales in thousands - 338 311 21% Rest of world 20% Western Europe 27% 27% excl. Germany 18% 19% Germany 19% 20% USA 16% 13% China Q1 2011 Q1 2012 8
  9. 9. Mercedes-Benz CarsUnit sales increase mainly driven by C-Class- Unit sales in thousands - 338* 311* 27 smart 24 61 SUV segment 58 52 A-/B-Class 48 75 100 C-Class 83 76 E-Class 21 22 S-Class Q1 2011 Q1 2012* Including Mitsubishi vehicles produced and/or sold in South Africa 9
  10. 10. Mercedes-Benz CarsProduct highlights New A-Class New B-Class E 300 BlueTEC HYBRID New SL roadster 10
  11. 11. Daimler TrucksDaimler Trucks: EBIT affected by product offensive and slowstart in Latin America- in millions of euros - - 30 Sales increase in NAFTA and Asia 6.6%* Prior-year figures included effects related to natural 5.2%* 413 disaster in Japan 383 Lower unit sales in Latin America Costs related to product offensive Discounting of non-current provisions with lower interest rates EBIT EBIT Q1 2011 Q1 2012* Return on sales 11
  12. 12. Daimler TrucksSales increase driven by business in NAFTA and Asia- in thousands of units - 108 12 Rest of world 89 11 40 Asia 30 10 Latin America 14 33 NAFTA region 22 12 13 Western Europe Q1 2011 Q1 2012 12
  13. 13. Daimler TrucksIncoming orders on unit sales level- in thousands of units - 119 15 107 14 Rest of world 37 40 Asia 13 10 Latin America 38 28 NAFTA region 16 15 Western Europe Q1 2011 Q1 2012 13
  14. 14. Daimler TrucksProduct highlights Mercedes-Benz Actros BharatBenz trucks Auman heavy truck Detroit DD16 engine 14
  15. 15. Mercedes-Benz VansMercedes-Benz Vans: EBIT on continued high level- in millions of euros - -5 8.8%* 8.0%* Lower warranty 173 168 Lower unit sales & model mix Higher R&D costs EBIT EBIT Q1 2011 Q1 2012* Return on sales 15
  16. 16. Mercedes-Benz VansSlight decrease in unit sales- Unit sales in thousands - 54.0 51.20.7 0.6 Vario 33.1 Sprinter 32.7 14.5 13.4 Vito 5.7 4.5 Viano Q1 2011 Q1 2012 16
  17. 17. Mercedes-Benz VansProduct highlights New city van Citan 17
  18. 18. Daimler BusesDaimler Buses: Repositioning initiated- in millions of euros - - 70 -33 Lower unit sales in Latin America -4.0%* Repositioning of the European business -103 -14.1%* EBIT EBIT Q1 2011 Q1 2012* Return on sales 18
  19. 19. Daimler BusesDecrease in unit sales mainly in Brazil- Unit sales in thousands - 7.7 0.6 1.6 4.9 0.6 Rest of world Latin America 4.0 1.1 (excl. Brazil) 1.7 Brazil 0.6 0.6 NAFTA region 0.9 0.9 Europe Q1 2011 Q1 2012 19
  20. 20. Daimler BusesRepositioning of bus business in Europe and North America toreduce break-even level Increase market share in Western Europe and presence outside of Europe Repositioning of Focus on product portfolio with reduced complexity European Balance production between high and low labor cost locations business (GLOBE2013) Reduce fixed and material costs Streamline organizational structures with lower headcount Repositioning of Close Orion operations; parts and service business to be continued North American business New setup of Setra business 20
  21. 21. Daimler Financial ServicesDaimler Financial Services: Stable earnings development- in millions of euros - + 23 Higher contract volume 344 321 Prior-year figures included provisions for expected credit losses in Japan Lower interest margins EBIT EBIT Q1 2011 Q1 2012 21
  22. 22. Daimler Financial ServicesStable contract volume- in billions of euros - 71.7 71.6 9.9 10.0 Africa & Asia/Pacific 30.6 30.2 Americas 14.2 14.4 Europe (excl. Germany) 17.0 17.0 Germany 12/31/2011 3/31/2012 22
  23. 23. Assumptions for automotive markets 2012 Car Global Growth of approximately 4% markets U.S./Asia Significant growth potential expected Global At least at the level of 2011 NAFTA +15% to +20% Truck Europe 0% to -10% markets Japan +15% to +20% Brazil -10% to -20%, due to new emission regulations Van Europe/China Slight decrease of medium and large vans markets U.S. Growth of more than 10% Bus Western Europe Stable market development markets Brazil Decrease due to introduction of new emission regulations 23
  24. 24. Sales outlook FY 2012 • Sales increase exceeding market growth • Launch of six attractive new products in 2012 • Growth potential especially in NAFTA, China and emerging markets • Unit sales should continue to increase • Growth expected in NAFTA and Asia • Declining sales in Latin America due to weak market • In Europe stronger performance than market • Positive sales development expected • New city van Citan to be introduced in fall 2012 • Unit sales expected below previous year’s level • Slight recovery for complete buses in Europe expected 24
  25. 25. 2012 targets for EBIT from ongoing business EBIT in the magnitude of 2011 EBIT at prior-year level EBIT at least at prior-year level EBIT at least at prior-year level EBIT below prior-year level EBIT slightly below prior-year level Guidance is based on current market expectations and exchange rate environment 25
  26. 26. Agenda 1 Q1-2012 Results 2 Daimler Strategy 3 Mercedes-Benz Cars 4 Daimler Trucks 26
  27. 27. Daimler‘s identity as an automotive pioneer is fueled byleading technologies, strong brands and global reach Technology leadership Brand Market leverage Cars Trucks Vans Buses Services 27
  28. 28. Daimler corporate strategy: Four central themes Strengthen core business Develop new markets Lead in „Green“ and Safety Shape mobility concepts 28
  29. 29. Agenda 1 Q1-2012 Results 2 Daimler Strategy 3 Mercedes-Benz Cars 4 Daimler Trucks 29
  30. 30. Leadership -- a state of mind 2 3 1 Mercedes-Benz 2020 30
  31. 31. Four levers of Mercedes-Benz 2020 Brand Product Sales Profit 31
  32. 32. Brand: Development of brand value and perception Product reliability AMS Best Cars 100 90 44% 80 70 35% Safety AMS Best Cars 60 100 50 35% 90 40 80 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 70 60 Perception of advertisement AMS Best Cars 50 60 40 50 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 40 30 20 10 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 = Competitor A = Competitor B 32
  33. 33. Brand: “The Best or Nothing” Mercedes-Benz is the most valuable premium automotive brand worldwide and Europes most valuable brand overall 33
  34. 34. Products: Ongoing success of our C-Class 34
  35. 35. Products: SUV Offensive - Our new GLK-Class 35
  36. 36. Products: SUV Offensive - Our new M-Class 36
  37. 37. Products: SUV Offensive - Our new GL-Class 37
  38. 38. Products: Our new SL-Class 38
  39. 39. Products: The new A-Class 39
  40. 40. Products: Mercedes-Benz Concept Style Coupé 40
  41. 41. More to come: At least 10 additional model series by 2015CompactMid-SizeFull-SizeLargeSUV 41
  42. 42. Products: Delivering on responsibility ML 250 BlueTEC 4MATIC E 300 BlueTEC HYBRID SLS AMG E-CELL 6.0 4.2 0 Fuel consumption combined in l/100 km 42
  43. 43. Products: CO2- Emissions in 2011 300 New cars registered in Germany 270 227 CO2-Emissions (g/km) 240 210 199 180 159 153 151 151 150 142 120 30 6.1 l 0 MBC* Audi BMW** Jaguar Porsche VW Volvo * Mercedes-Benz Cars incl. smart and excl. Vans ** BMW incl. Mini Source: Federal Motor Transport Authority (KBA); auto, motor und sport 5/2012 43
  44. 44. Sales: At least 1.6 million cars in 2015 – sales leadership in 2020Mercedes-Benz sales forecast[million units – without smart] Best sales* >1.6 >1.5 1.28 2011 2014e 2015e 2020e*Within automotive premium segment; schematic representation 44
  45. 45. Profit: Common vehicle architectures and module strategyenable efficient use of resources Electricity/Electronics Powertrain/eDrive Front-Wheel Drive Body-in-white Chassis Exterior Interior Rear-Wheel Drive 45
  46. 46. Profit: Strong improvement at New Generation CompactCars, S-Class and C-ClassEBIT Lifecycle Performance Development S-Class C-Class New Generation Compact Class Former A/B NGCC BR 221 BR 222 BR 204 BR 205 46
  47. 47. Profit: Mercedes outperforms competition in initial qualityand long term quality dependabilityJ.D. Power Initial Quality Study J.D. Power Vehicle Dependability Studypph pph130 250110 200 forecast 15090 10070 50 2006 2007 2008 2009 2010 2011 2012 2006 2007 2008 2009 2010 2011 2012Warranty and good will cost – 12 months in sales Warranty and good will cost – 60 months in salesPredecessor compared to actual model €/veh. -77% -46% -22% -49% -62%100% -70% C-Class E-Class E-Coupe/Convertible CLS-Class SLK-Class 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 47
  48. 48. Profit: By 2015 two flexible manufacturing networks will beestablished Bremen Rastatt Kecskemét Sindelfingen MFA MRAWe will be more flexible: Tuscaloosa Beijing• Within products across plants• Within plants across products• Within architecture across plants and products East London MFA Mercedes Front Wheel Architecture MRA Mercedes Rear Wheel Architecture 48
  49. 49. We follow new paths, but not at the expense of old strengths…Established Luxury Combustionmarkets cars technology + + +Growth Compact Alternativemarkets cars drivetrains 49
  50. 50. …to deliver on our strategic targets ▸ Sales leadership Milestones: >1.5 in 2014 / >1.6 in 2015 ▸ Technology leadership Milestone: 125 g CO2 / km fleet average in 2016 ▸ Flexible footprint and productivity improvement Milestone: HPV 30h in 2015 ▸ Capital and cost discipline Milestones: CapEx Ratio ~7% / R&D Ratio ~6% ▸ Sustainable profitability gain Milestone: 10% RoS on average from 2013 onwards 50
  51. 51. Hungry for more. 51
  52. 52. Agenda 1 Q1-2012 Results 2 Daimler Strategy 3 Mercedes-Benz Cars 4 Daimler Trucks 52
  53. 53. The new Actros: „Truck of the Year“ 53
  54. 54. Further Actros models launched in 2012 and 2013 54
  55. 55. Daimler TrucksDaimler Trucks position: Excellent coverage of Triadand Brazil, increasing RIC presence 55
  56. 56. BharatBenz products will cover the complete Indian truckrange and service all customer applications 56
  57. 57. Opening of Daimler India Commercial Vehicles truck plant inChennai in April 2012 57
  58. 58. Daimler TrucksChina: Daimler Trucks obtained economic interest in theJV with FotonSigning MofCom Contribution Full OperationJV Contract Filing Process  Negotiation on 2nd plant  Transfer of Auman  2 production plants governmental approval assets to BFDA  Maximum capacity requirements in progress  Request of all licenses 160,000 units/yearJuly 2010 October 2011 March 2012 Business License Start of Economic Interest 58
  59. 59. Regional Champions: Auman Trucks in China 59
  60. 60. Global Excellence: Our new engines Management 1 of Cycles Effectiveness & Operational Efficiency 2 Excellence Growth and 3 Market Exploitation Strategic Growth & Future Product New Products 4 Generations 60
  61. 61. Over 50% of the cost of a modern truck is the powertrainIncreasing requirements High share within the value chain 0% Powertrain > 50% 100% Fuel economy Emission regulation Axles Engine with ATS Frame, Cab Others Future drive technology Mechatronics Transmission Assembly 61
  62. 62. Daimler Trucks implemented a global heavy-duty engineplatformUSA GermanyoPortland/OR oGaggenauoCleveland/NC oKasseloMount Holly/NC oMannheimoRedford/MI oWörthoHigh Point/NC oStuttgart (HQ)oGaffney/SCoGastonia/NC France Russia oMolsheim oChelny Portugal Japan oTramagal Turkey oKawasaki oAksaray oToyama Mexiko China oAikawa oSaltillo oBeijing oEbina oSantiago Tianguistenco oKitsuregawa (test track) oToluca India oChennai Brazil oSão Bernardo do Campo South Africa oJuiz de Fora oKapstadt 62
  63. 63. …and now also introduced of thenew medium-duty Engine PlatformEngines for all truck and bus applications 5.1 litres to 12.8 litres Heavy-Duty Medium-Duty Engine Platform Engine Platform • Robust • Compact • Efficient • Powerful • High performance 115 kW to 375 kW Municipal utility Urban delivery Regional delivery Construction City bus Interurban bus Coach Long-haul 63
  64. 64. The New Engine GenerationRequirements set by global legislations, customer and market demands The most economic engines in Total Cost of Ownership Fuel Performance • Low fuel consumption consumption • Long service intervals • Operational Emissions performance Reliability • First complete range of engines meeting Euro VI requirements 64
  65. 65. Appendix 65
  66. 66. Group EBIT in Q1 2012- in millions of euros - 82 -514 278 Cars +80 230 2,130 2,031 • • Trucks -2 • Cars +198 • • Vans Buses +6 -1 23 • Trucks +131 • Vans -20 • Cars -315 • Buses -31 • Trucks -206 • Vans +9 • Buses -1 thereof: Discounting of provisions -146 • Cars -89 • Trucks -27 Actual Volume/ Foreign Other cost Financial Services Other Actual Q1 2011 Structure/ exchange changes Q1 2012 Net pricing rates 66
  67. 67. Special items affecting EBIT- in millions of euros - 1st quarter Daimler Trucks 2011 2012 Natural disaster in Japan -49 – Daimler Buses Business repositioning* – -36 Daimler Financial Services Natural disaster in Japan -29 – * During the course of the year 2012, Daimler Buses expects further special items from the repositioning of the European business of up to €50 million and of the North American business of approximately €60 million. 67
  68. 68. EBIT from ongoing business- in millions of euros - Q1 2011 Q1 2012 Daimler Group 2,109 2,166 of which Mercedes-Benz Cars 1,288 1,252 Daimler Trucks 462 383 Mercedes-Benz Vans 173 168 Daimler Buses -33 -67 Daimler Financial Services 350 344 Reconciliation -131 86 68
  69. 69. Daimler Financial ServicesNet credit losses* decreased significantly 0,89% 0,83% 0,69% 0,68% 0,61% 0,50% 0,51% 0,43% 0,36% 0.31%** 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 YTD* as a percentage of portfolio, subject to credit risk** annualized rate 69
  70. 70. DisclaimerThis document contains forward-looking statements that reflect our current views about future events. The words “anticipate,”“assume,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “should” and similar expressions are used to identifyforward-looking statements. These statements are subject to many risks and uncertainties, including an adverse development ofglobal economic conditions, in particular a decline of demand in our most important markets; a worsening of the sovereign-debtcrisis in the eurozone; a deterioration of our funding possibilities on the credit and financial markets; events of force majeureincluding natural disasters, acts of terrorism, political unrest, industrial accidents and their effects on our sales, purchasing,production or financial services activities; changes in currency exchange rates; a shift in consumer preference towards smaller,lower margin vehicles; or a possible lack of acceptance of our products or services which limits our ability to achieve prices as wellas to adequately utilize our production capacities; price increases in fuel or raw materials; disruption of production due toshortages of materials, labor strikes, or supplier insolvencies; a decline in resale prices of used vehicles; the effectiveimplementation of cost-reduction and efficiency-optimization measures; the business outlook of companies in which we hold asignificant equity interest, most notably EADS; the successful implementation of strategic cooperations and joint ventures;changes in laws, regulations and government policies, particularly those relating to vehicle emissions, fuel economy and safety;the resolution of pending governmental investigations and the conclusion of pending or threatened future legal proceedings; andother risks and uncertainties, some of which we describe under the heading “Risk Report” in Daimler’s most recent Annual Report.If any of these risks and uncertainties materialize, or if the assumptions underlying any of our forward-looking statements proveincorrect, then our actual results may be materially different from those we express or imply by such statements. We do not intendor assume any obligation to update these forward looking statements. Any forward-looking statement speaks only as of the dateon which it is made. 70
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