DaimlerChrysler's Smart Cars Enter Mexican Car Market

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BERLIN August 29, 2003; Dow Jones reported that DaimlerChrysler AG's micro car brand Smart said Monday it's entering the Mexican car market, its first foray on the American continent.

Smart will sell its trademark city coupe - a mini two-seater designed for crowded urban streets - and its sporty roadster. A new four-seater will be available in summer 2004.

"With a huge multi-million metropolis like Mexico City, (the country) is an attractive market for compact, agile and environmentally compatible small cars from Smart," said Philipp Schiemer, Smart's vice president for marketing and sales, in a statement.

"We are also gaining our first experience which we can use to prepare for entering the U.S. market," he added.

Smart plans to enter the U.S. with a modified version of its four-seater in 2006.

Smart said it will sell cars at seven locations attached to existing Mercedes dealers in Mexico. Four of the sales points are in Mexico City with the others in Guadalajara, Monterrey, and Veracruz.

The company expects to sell about 400 cars in Mexico in 2004, a company spokesman said. In 2002, Smart sold more than 122,000 cars.

Smart was set up in 1994 and began production in 1998. The company expects to make a profit for the first time in 2004.

Including Mexico, Smart is currently active in 27 countries.

Company Web site: http://www.smart.com