Daimler Financial Services (DFS) achieved strong gains again after an economically difficult year 2009, thanks to better new business volumes and rapid growth in the market of China, helping the group to earn profits of $815 millions in the first three quarters of 2010.
The Daimler Group division expects earnings before interest and tax (EBIT) from ongoing business for whole-year 2010 of more than $1,2 billion. This would be one of the best results achieved by the division through the financial services it provides for Mercedes-Benz passenger cars, smart, and Daimler commercial vehicles. These good financial results were made possible thanks to the new business volume that increased of 16 percent in the first three quarters of this year, compared to the same period in 2009.
In China, financial services are also playing an increasingly important role in vehicle purchases, helping the group to get better financial results. "We expect to see continued rapid growth in China, and we also appreciate the fact that Chinese customers are very reliable when it comes to making payments," says Klaus Entenmann, Chairman of the Board of Management of Daimler Financial Services.
DFS is also preparing for its market launch in India for the second half of 2011, in order to offer financing, insurance, and fleet management for Mercedes-Benz passenger vehicles while financial services for commercial vehicles will follow in 2012.
Source: Daimler
The Daimler Group division expects earnings before interest and tax (EBIT) from ongoing business for whole-year 2010 of more than $1,2 billion. This would be one of the best results achieved by the division through the financial services it provides for Mercedes-Benz passenger cars, smart, and Daimler commercial vehicles. These good financial results were made possible thanks to the new business volume that increased of 16 percent in the first three quarters of this year, compared to the same period in 2009.
In China, financial services are also playing an increasingly important role in vehicle purchases, helping the group to get better financial results. "We expect to see continued rapid growth in China, and we also appreciate the fact that Chinese customers are very reliable when it comes to making payments," says Klaus Entenmann, Chairman of the Board of Management of Daimler Financial Services.
DFS is also preparing for its market launch in India for the second half of 2011, in order to offer financing, insurance, and fleet management for Mercedes-Benz passenger vehicles while financial services for commercial vehicles will follow in 2012.
Source: Daimler