DaimlerChrysler stock firm after analyst meeting
Thursday June 3, 7:20 am ET
FRANKFURT, June 3 (Reuters) - DaimlerChrysler (XETRA:DCXGn.DE - News) stock firmed in a weaker market for automakers on Thursday after an analyst meeting in Detroit that one analyst said unveiled three new products at the U.S.-based Chrysler division.
Merrill Lynch analyst Stephen Reitmann said in a research note that Chrysler (NYSE:DCX - News) showed off for the first time three vehicles set to hit the market in 2005 or 2006.
These were a large Jeep Commander built on the Jeep Grand Cherokee platform, a new C-segment Sebring sedan co-developed with Mitsubishi Motors (Tokyo:7211.T - News) and a Dodge Charger built on the Chrysler 300 platform.
"All three models seemed attractive and winning," he wrote, but the car maker still faced intense competition FROM rivals also bent on rolling out new products INTO a market where generous incentives have become mandatory to sell cars.
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