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Automotive Intelligence News

News of  December 05, 2001


 


DaimlerChrysler Services North America LLC Formed to Underline Role of Captive Financial Services Provider

  • Providing financial solutions for entire product range
  • Chrysler Financial and Mercedes-Benz Credit continue as brands

Southfield, Mich. - DaimlerChrysler Services North America LLC was formed on December 1, 2001 to underline the captive financial services role for the entire range of DaimlerChrysler passenger car and commercial vehicle products. The North America operations represent the largest portion of DaimlerChrysler Services' global operations, which are headquartered in Berlin and are a wholly-owned company of DaimlerChrysler AG.

The brands Chrysler Financial and Mercedes-Benz Credit have been merged into the newly formed company DaimlerChrysler Services North America LLC. As brands they will continue to exist and operate as such at the point of sale and in customer contact. "The newly introduced name which builds on the strong position of DaimlerChrysler gives us the needed flexibility to maintain the strong brands we have while clearly underlying our role as the captive financial services provider for the exciting range of DaimlerChrysler products. We will continue with our brand specific approach to our customers and continue to provide the high level of financial services support to our sales and marketing colleagues and dealer body," stated DaimlerChrysler Services North America LLC President and CEO, Jürgen Walker.

Chrysler Financial has been providing vehicle wholesale financing and credit lines to dealers, as well as retail and lease financing to their customers for over 35 years. In addition to automotive financing, the Chrysler Financial brand provides Commercial Finance Options consisting of lease and loan products and lines of credit. You can find online information about Chrysler Financial at www.chryslerfinancial.com.

Mercedes-Benz Credit has been providing retail and lease financing to consumers through Mercedes-Benz dealerships, as well as wholesale floorplan and credit lines to Mercedes-Benz dealers for the last 20 years. Online information can be found at www.mbcc.com

"We have continuously invested in our brand equity and through our specific financial services product offer, we aim at constantly enhancing the brand experience and increasing brand loyalty. The best example that illustrates this is our newly launched Chrysler, Jeep® and Dodge RewardsTM credit cards that tie customers closer to the products they are driving," stated Jürgen Walker.

(Dec 3, 2001)

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