NEW YORK (Standard&Poor's) Oct. 31, 2001--Standard&Poor's today lowered its long-term ratings on DaimlerChrysler AG and related entities and removed them from CreditWatch, where they were placed on Sept. 18, 2001. Standard&Poor's short-term ratings on the company are affirmed (see list below). The current outlook is negative. Deteriorating fundamentals in the North American auto industry add to the uncertainty surrounding the timing and extent of the turnaround at DaimlerChrysler's largest operating unit, the Chrysler Group. Chrysler's market share has declined significantly in 2001, reflecting the weaknesses of its product offerings and accelerating industrywide price competition. Better-than-anticipated industry volume and the benefits of the extensive restructuring actions initiated in February 2001 have temporarily offset the impact
