DaimlerChrysler (stock-exchange abbreviation DAI) today decided on a share buyback program. In exercise of the authorization granted by the Annual Meeting of April 4, 2007, the Board of Management and the Supervisory Board approved a program for the company to acquire its own shares.

This is a logical step to take in view of the high net liquidity in the industrial business as well as the good prospects for earnings and cash flows in all divisions. Following the structural and strategic realignment of the core business, this decision will also optimize the company’s capital structure and make it more efficient.

The share buyback program will be executed through the stock exchange. Nearly 10% of the outstanding shares will be acquired for an amount of up to €7.5 billion in exercise of the authorization granted by the Annual Meeting of April 4, 2007. This will fully utilize the volume authorized by the Annual Meeting. By the end of this year, treasury shares are to be acquired in a volume of approximately €3.5 billion. By the end of August 2008, the acquisition of additional shares in a volume of up to approximately €4 billion is planned, provided that the earnings situation is in line with expectations for full-year 2007. The period of the buyback program is limited until the end of August 2008.

Mercedes-Benz’s director of corporate communications, Geoff Day, announced a great event for the upcoming Frankfurt auto show: Mercedes-Benz will be introducing 19 cars in 15 minutes.

These won’t all be new cars, with probably a mix of concepts and updates, but Mercedes-Benz intends to make a big splash this year. We expect to see some sort of hybrid in the mix, although we couldn’t pin him down on the details. The most firm information we got was the previously leaked F700 concept, rumored to be a big luxury car, which will feature the DiesOtto engine.