In accordance with US GAAP and the SEC, an impairment charge of $2.28 billion was recognized with effect as of September 30 on the Group's holding in EADS. Net income decreased, mainly due to the impairment, to $-1.9 billion (Q3 2002: $0.9 billion); without this effect net income would have been $0.4 billion.
Despite “a challenging automobile environment, particularly in North America and Western Europe”, DaimlerChrysler sold 1.1 million vehicles worldwide in the third quarter (Q3 2002: also 1.1 million). Due to the appreciation of the euro against the US dollar and lower unit sales, DaimlerChrysler's total revenues of $40.3 billion were 5% lower than a year earlier quarter. Adjusted for exchange-rate effects, there was an increase of 3%.
Mercedes Car Group's operating profit of $924 million equalled the result of the third quarter 2002 despite expenditures for the further preparation of the group's second product offensive. After a loss in the second quarter, Chrysler Group returned to positive figures, with an operating profit of $171 million (Q3 2002: $355 million).