Daimler Financial Services
News
Daimler Financial Services increased its contract volume by 2% to €58.3 billion in the first quarter of 2008. In the first quarter of 2008, 15 subsidiaries were fully consolidated for the first time (mainly in Eastern Europe and Asia). Adjusted for these consolidation effects and for exchange-rate effects, the increase was 7%. New business of €6.7 billion was 2% below the prior-year level. After adjusting for the two aforementioned factors, there was also a decrease of 2%.
The development of Daimler Financial Services was generally stable in 2007. The financial year was affected by the separation of Chrysler’s financial services business in North America, which had become necessary due to the transfer of a majority interest in Chrysler.
Daimler Financial Services, the financial services provider of the Daimler Group, has expanded its insurance business in Asia with the introduction of motor vehicle insurance for customers in South Korea. Beginning in December 2007, Mercedes-Benz customers in Korea can insure their vehicles through Daimler Financial Services, in addition to financing and leasing.
DaimlerChrysler Bank Rus officially opened on November 7, 2007. The bank’s headquarters are in Moscow. Established by Daimler AG, the financial institute offers loans to private and commercial customers for new and used vehicles, which is enabling Daimler dealers in Russia to offer their customers a broader range of financial services than before.
International
Operating in more than 40 countries, Daimler Financial Services is the most international captive financial services provider. Daimler Financial Services has 6,500 employees and manages a contract volume of 58 billion Euro.
