Daimler Mobility to be turned into two powerful independent financial services providers at the end of 2021

Daimler Mobility to be turned into two powerful independent financial services providers at the end of 2021

May 19, 2021
Stuttgart
  • Creation of two focused and independent financial services providers for the car and van business of Daimler AG and for the truck and bus business of Daimler Truck planned for late this year
  • Daimler Truck Financial Services to become largest captive company for financial services in the truck and bus sector
  • Daimler Mobility to provide even more focused support for the sale of luxury cars and premium vans as well as for the substantial growth of the electric vehicle business

Stuttgart — The realignment of Daimler AG and the planned spin-off of Daimler Truck later this year will be a historic step for the Group and a great opportunity for the financial and mobility services provider Daimler Mobility. The planned division into two powerful independent financial service providers for the car and van business as well as for the truck and bus business will link the two organizations even more closely with their respective sister companies and their customers. The goal is to establish two completely functional and efficient organizations by the end of the year.

“The realignment provides us with a great opportunity to make the services of Daimler Mobility even more focused and more tailored to the specific needs of the respective customers so that we can make our business even more successful,” says Franz Reiner, CEO of Daimler Mobility AG. “We will turn one successful financial services provider into two focused, powerful, and independent financial services providers. This will enable us to react to changing customer requirements with even greater agility, launch innovative products even more quickly on the market, and promote customer loyalty even more effectively. In this way, Daimler Mobility will contribute even more strongly to the market success of the two sister companies.”

Daimler Mobility is a leading provider of financial services, fleet management systems, and mobility solutions. It has round five million customers in 39 markets. The company already finances or leases out half of all the vehicles of the Daimler brands. The planned new company for financial services for trucks and buses will be called Daimler Truck Financial Services.

Daimler Truck Financial Services: Largest captive company for financial and mobility services for the truck and bus business

As a subsidiary of Daimler Truck AG, Daimler Truck Financial Services will, from the end of the year, provide the world’s largest truck and bus manufacturer with even more targeted support as it moves ahead with battery-electric, hydrogen-powered, and automated driving. The company will be headed by Stephan Unger, who is currently the Daimler Mobility AG Board of Management member for Finance, Controlling, Risk Management, and Digital Mobility Solutions.

Daimler Truck Financial Services will have around 1,900 employees by the end of 2022 and is expected to operate in 16 markets, including eight European markets (Germany, Italy, France, the UK, Belgium, the Netherlands, Spain, and Turkey) as well as the United States, Canada, Brazil, Argentina, and Mexico in the Americas and Japan, Australia, and South Africa overseas. Once it is fully operational, the company might have a contract volume of up to €24 billion. The future organization will be oriented toward the global structure of Daimler Truck and its strong brands in the respective regions, e.g. Mercedes-Benz Truck, which focuses on Europe, Latin America, and several overseas markets; Freightliner, Western Star, and Thomas Built Buses, focusing on North America; and the brands Fuso and Bharat Benz, focusing on Asia.

Today one fourth of all the vehicles sold by Daimler Truck AG are already financed or leased through Daimler Mobility. The company will focus on the truck and bus business as well as on tailored leasing and financing solutions in order to significantly increase this share and exploit the great growth potential.

“The realignment will enable Daimler Truck Financial Services to concentrate fully on the capital goods business in the transportation sector. This is a big advantage over the current situation, because the segment is subject to different rules than the car and van business, which focuses on end customers,” says Stephan Unger. “I am greatly looking forward to the new task. Daimler Truck Financial Services will write a new chapter in the history of the financial services for Daimler Truck.”

Daimler Mobility: Strong support for the sale of luxury cars and premium vans and for the substantial growth of the electric vehicle business

Daimler Mobility will be headed by Franz Reiner also in the future and be represented in 39 markets worldwide. It has a contract volume of around €125 billion. Daimler Mobility is closely interlinked with its sister company, Mercedes-Benz AG, and will actively exploit the opportunities that the transformation of the automotive industry opens up as well as accelerate innovations and exploit growth potential even more effectively. In doing so, Daimler Mobility will primarily focus on two topics in the car and van business. On the one hand, it will concentrate more on supporting the sale of luxury cars and premium vans. On the other, Daimler Mobility will actively help customers switch to electric vehicles and also offer leasing and financing products for all of the electric vehicles from Mercedes-Benz.

The company also considers the greatly increasing importance of online sales and of digital, personalized, and data-driven customer solutions to be future growth drivers. To this end, Daimler Mobility will create a system that will allow it to provide its customers with comprehensive, personalized services at all points of contact with the company and its partners in the automotive business, whether online or offline.

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  • Legend
    Daimler Mobility to be turned into two powerful independent financial services providers at the end of 2021
  • Release date
    May 19, 2021
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  • Legend
    Franz Reiner, CEO of Daimler Mobility AG
  • Release date
    May 19, 2021
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  • Legend
    Stephan Unger to take on the leadership of the new company-owned financial services unit of Daimler Truck AG with effect from 1 July 2021


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