DaimlerChrysler made significant progress in the year 2005, but our earnings are still not where we want them to be. We intend to grow profitably and to create added value over the long term – for the benefit of our customers, employees and shareholders.

Our objective in taking these actions is to create a lean, agile structure, with streamlined and stable processes that will unleash DaimlerChrysler’s full potential.

The markets are deteriorating, and our company's performance even more so. Competition is brutal. North American manufacturers are under pressure from imports and an incentive war is on.

The industry is dealing with a highly competitive, saturated marketplace. The combination of a softening market and an excess of inventory requires immediate action.

Clearly it is our objective to become No. 1 in the J.D. Power survey, We'll definitely be within the very top ranks within the next three years.

Clearly, it's our objective to be No. 1, We will be in the very top ranks in the next three years.

If there's one message I want to convey, it is this: exciting breakthrough products made this company and those kind of products will make our company stand tall again.

Industry sales actually came out higher than expected. In January, we lost some momentum in the marketplace because of the uncertainty surrounding our recovery. By announcing a major portion of our turnaround plan earlier this week, we will recapture that momentum.

I'm more proud of the fact there is an extremely strong management team in place in Auburn Hills. Tom LaSorda was a key pillar of that management team.

DaimlerChrysler made significant progress in 2005. But our earnings are still not where we want them to be.