Daimler AG announced the official launch of its Financial Services unit in India. The group provides financial services in 40 countries worldwide, has its headquarters in Chennai for its Indian subsidiary. An initial investment of USD 50 million as part of its market entry and has put in place an electronic point-of-sales system to deliver speedy loan approval decisions and contract processing across all Mercedes-Benz dealerships.
Daimler Financial Services has embarked an ambitious growth path in India.
Some of the salient points are –
- Official launch of Daimler Financial Services India Pvt Ltd.
- Financing, leasing and insurance offers to customers and dealers
- Contract volume of USD 500 million expected in five years
- A separate finance company for BharatBenz(Commercial vehicles) planned in 2012
“Two out of five Mercedes-Benz cars and every fourth commercial vehicle of the Daimler group worldwide is financed or leased by Daimler Financial Services. We intend to replicate this success story in India as soon as possible. Daimler Financial Services aims to reach a contract volume of USD 500 million in India in five years.” Mr. Klaus Entenmann, Chairman of the Board of Management, Daimler Financial Services AG, said.
Also see – Mercedes-Benz launches mobile-optimised website in India