The statements made in the Outlook chapter are based on the business plan of Daimler AG as approved by the Board of Management and the Supervisory Board. That plan is based on the premises we set regarding the economic situation and the development of automotive markets. It involves assessments made by Daimler, which are based on analyses by various renowned economic research institutes, international organizations and industry associations, as well as on the internal market analyses of our sales companies. The prospects for our future business development as presented here reflect the targets of our divisions as well as the opportunities and risks presented by the anticipated market conditions and the competitive situation during the planning period. Against this backdrop, we adjust our expectations for business development to reflect updated forecasts for the development of the various automotive markets. The statements made below are based on the facts known to us at the beginning of 2021. The Daimler Business Plan is based on the existing Group structure, including Daimler Trucks & Buses, and for reasons of comparability covers the full 2021 financial year. As previously announced, the Board of Management decided to evaluate a spin-off of Daimler Trucks & Buses including significant parts of the related financial services business (Daimler Trucks), and to begin preparations for a separate listing of Daimler Truck before the end of 2021. Before the spinn-off, we will reclassify Daimler Truck as discontinued operations. We expect considerable positive effects in with the spinn-off in the second half of the year, which cannot be reliably determined at present.
Our assessments for the year 2021 are based on the assumption of a gradual normalization of economic conditions in the markets that are most important for us. Our expectations for business developments in 2021 are based in particular on the assumption that the global economy can recover from the pandemic-related weakness of 2020, helped by, among other things, the increasing availability of effective vaccines. We expect demand for cars and commercial vehicles to exceed the prior-year levels significantly in many markets. The development we have outlined is subject to various opportunities and risks, which are explained in detail in the Risk and Opportunity Report.