A new all-time record at Daimler Financial Services

Time 1:53 pm, November 13, 2014

1253096661phpERTpjO-300x225DAIMLER Financial Services is on track to set new records in 2014.

The company is currently leasing or financing more passenger cars, vans, trucks, and buses than ever before — a total of 3.3 million vehicles worth £75 billion.

Klaus Entenmann, chairman of the Daimler Financial Services Board of Management, said: ‘We’re experiencing one of the best years in our company’s history.

‘We posted an EBIT [earnings before tax and interest] of nearly €1.1 billion (£870m) in the first three quarters of 2014; this represents an increase of 14 per cent compared to the same period of the prior year — and a new all-time record.’

In the first ten months of the year, Daimler Financial Services initiated roughly 1.1 million new financing or leasing contracts worldwide with a total value of £30 billion (+13 per cent).

Particularly in China, more and more car customers are now financing or leasing their vehicles — and as a result, the number of new contracts in China has more than doubled. The number of vehicle insurance policies brokered by Daimler Financial Services around the world has also increased — by 10 per cent to roughly 1.1 million.

Entenmann added: ‘We continue to strive for profitable growth.’

And that growth will be driven by factors such as the Mercedes-Benz model offensive and the rapidly growing demand in countries such as China and India. In addition, Daimler Financial Services plans to attract larger numbers of younger customers by offering them flexible terms. The company will also step up its online activities and offer more apps.

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Dave Brown's avatar

Dave, production editor on Car Dealer Magazine, is a journalist with more than 30 years' experience in the worlds of newspapers, magazines and public relations.

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