<PAGE>

                                                                    EXHIBIT 10.3



INDEPENDENT AUDITORS' REPORT


Board of Directors
DaimlerChrysler Corporation
Auburn Hills, Michigan

We have audited the consolidated balance sheet of DaimlerChrysler Corporation
and consolidated subsidiaries (the "Company") as of December 31, 2000 and 1999,
and the related consolidated statements of income and cash flows for each of the
three years in the period ended December 31, 2000. Such consolidated financial
statements are not included herein. These financial statements are the
responsibility of the Company's management. Our responsibility is to express an
opinion on these financial statements based on our audits. We did not audit the
financial statements of Chrysler Financial Company L.L.C. (a consolidated
subsidiary) for the years ended December 31, 2000 and 1999, which statements
reflect total assets constituting 50% and 39% of consolidated total assets as of
December 31, 2000 and 1999, respectively, and total revenues constituting 13%
and 5% of consolidated total revenues for the years ended December 31, 2000 and
1999, respectively. Those financial statements were audited by other auditors
whose report has been furnished to us, and our opinion, insofar as it relates to
the amounts included for Chrysler Financial Company L.L.C. for the years ended
December 31, 2000 and 1999, is based solely on the report of such other
auditors.

We conducted our audits in accordance with auditing standards generally accepted
in the United States of America. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits and the report of
other auditors provide a reasonable basis for our opinion.

In our opinion, based on our audits and the report of other auditors, such
consolidated financial statements present fairly, in all material respects, the
financial position of DaimlerChrysler Corporation and its consolidated
subsidiaries at December 31, 2000 and 1999, and the results of their operations
and their cash flows for each of the three years in the period ended December
31, 2000, in conformity with accounting principles generally accepted in the
United States of America.

The Company adopted the provisions of the Financial Accounting Standards Board's
Statement of Financial Accounting Standards (SFAS) No. 133, ACCOUNTING FOR
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES, on January 1, 2000, and SFAS 138,
ACCOUNTING FOR DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - AN AMENDMENT OF
SFAS 133, and Emerging Issues Task Force Issue No. 99-20, RECOGNITION OF
INTEREST INCOME AND IMPAIRMENT ON PURCHASED AND RETAINED BENEFICIAL INTERESTS IN
SECURITIZED FINANCIAL Assets, on July 1, 2000.


Deloitte & Touche LLP
Detroit, Michigan
February 8, 2001