Daimler Financial Services India completed 5 years of successful operations in India. Headquartered in Chennai, Daimler Financial Services India is a 100% subsidiary of Daimler AG.
Mr. Fred Weick, Managing Director, Daimler Financial Services India commmented, “In 2011 we entered the dynamic and high potential Indian market and five years later we are extremely satisfied with our market penetration and presence. We are proud to be the fastest growing financial services provider not only for Mercedes-Benz passenger cars business but also for Daimler’s commercial vehicles under the BharatBenz brand in India. We always believed that India is a strategic market for us at Daimler Financial Services, and our success is a testament of our vision. We are here for good and would like to contribute in making many more customers for life by providing our consummate and flexible financial products and services.”
Mr. Weick further elaborated, “In a short span of 5 years DFS India has become a key pillar for Mercedes-Benz and Bharat Benz, financing almost every second customer, in over 120 cities. We are glad that our growth momentum is on par with our projections envisioned during our inception in 2011. We intend to increase our penetration sustainably and further consolidate our presence as we want to be the first-choice provider of financial and mobility services for our customers and dealers across the country.” Daimler Financial Services
offers automotive financing, leasing, and insurance services. At the end of 2015, the company had more than 3.7 million cars and commercial vehicles worth almost €117 billion on its books, globally. In Germany the company operates under the Mercedes-Benz Bank brand and customers can finance their cars and also open call accounts and fixed-term deposit accounts. Daimler Financial Services believes in engaging customers for life and this belief has been a key success factor in strengthening customer loyalty. Whether it’s through financing, leasing, insurance, banking or mobility services, Daimler Financial Services support the Group’s unit sales, make Daimler more attractive for new target groups, and promote long-term customer retention. The subsidiary in India is registered as Daimler Financial Services India Pvt Ltd. on July 1, 2011. The company offers comprehensive finance, leasing and insurance products to customers and dealers of Mercedes-Benz cars and BharatBenz in India under the brands ‘Mercedes-Benz Financial’ and ‘BharatBenz Financial’, respectively.
DFSI provides financing solutions for every second vehicle sold in India (PC + CV). DFS India is positive towards further growth which will not only enhance the end customers’ purchase and ownership experience in entirety, but also help it increase its customer retention. Effective and tailor-made products:
Daimler Financial Services provides a broad range of automotive financial services. The company provides finance, leasing, and insurance to passenger cars and commercial vehicles. Tailor made products like Star Finance, Star Agility, Star Lease, Star Insurance, Corporate Star Lease and Structured Financing have been instrumental in DFSI’s increasing popularity amongst Indian customers. These services guarantee customers a high level of financial flexibility. Comprehensive insurance covers approximately seven out of ten customers for Mercedes-Benz passenger car segment and every second customer in the truck segment.
On the Commercial Vehicle side, DFSI has bundled finance offerings which finances the entire package of truck ownership along with BharatBenz Insurance, extended warranty, AMC & body cost. The customer has numerous options of special campaign programs like MDT 555, Monsoon campaign, Tipper Campaignand more to choose from with flexible repayment options. The customer can also opt for operating lease as a finance option. Speedy Loan Approval:
Daimler Financial Services announced an initial investment of USD 50 million as part of its market entry. It has put in place an electronic point-of-sales system to deliver speedy loan approval decisions and contract processing across all Mercedes-Benz dealerships.