Chrysler Group Unveils New Chrysler, Dodge and Jeep Vehicles

DaimlerChrysler's Stock Moves Up on same day Mitsubishi Shares Plummet

During an analysts meeting in Detroit on Wednesday, June 2, 2004, the Chrysler Group showed off three new vehicles destined to

DaimlerChrysler unveiled the Jeep Commander concept during the LA Auto Show on December 29, 1998. The concept featured fuel-cell technology that generated its own electricity, but the upcoming Commander production SUV is expected to feature a conventional powertrain and most likely, updated styling. (Photo: Joe Wilssens, DaimlerChrysler Canada)

come to market in 2005 or 2006, as reported by Automotive News quoting a research note written by Merrill Lynch analyst Stephen Reitman.

The vehicles, and other statements by Chrysler Group executives, must have done the job as DaimlerChrysler stock outpaced all rival automaker shares during the Thursday after the meeting. The rise in shares also followed news that the automaker's overall sales were up 1 percent in May, 2004 over the same period in 2003.

On the subject of the analysts meeting, Automotive News reported: "We believe the (analysts) day supports one of the

The Dodge Charger R/T Concept Vehicle, introduced in 1999, is seen here with classic Charger muscle cars. Chrysler Group's new HEMI engine is the ideal powerplant to combine with the Charger name, reuniting a legendary nameplate that still whips classic car collectors into frenzy at the very mention. (Photo: DaimlerChrysler Canada)

key pillars of our 'overweight' investment thesis for DaimlerChrysler," Morgan Stanley commented in a statement to clients on the same day. "Fundamentals of the Chrysler division are turning the corner despite the continued challenges in the U.S. light-vehicle market."

The three cars started with a large Jeep Commander due next year to be developed off of all-new Jeep Grand Cherokee architecture. The Commander name first appeared as a concept unveiled at the Los Angeles Auto Show on December 29, 1998. The concept featured fuel-cell technology that generates its own electricity, but the upcoming Commander production SUV is expected to feature a conventional powertrain.