. DaimlerChrysler Is First Company to Provide
Vehicle Financing for Both Cars and Trucks in China
Photo: DC
Start of
DaimlerChrysler Auto Finance (China) Ltd.: Alwin Epple, Dr. Till Becker,
Jürgen Walker and Dr. Wolf Bay (from left to right)
Berlin/Beijing -
DaimlerChrysler is the first automotive company in China to provide
customer and dealer financing for both passenger cars and commercial
vehicles. DaimlerChrysler Financial Services, the finance unit of
DaimlerChrysler Group, started its business operations in China with the
official opening of the new company DaimlerChrysler Auto Finance (China)
Ltd. (DCAFC).
DaimlerChrysler Financial
Services began making preparations to do business in the People’s Republic
of China earlier this year and received its business license on September
21, after having been granted the final approval from the China Banking
Regulatory Commission (CBRC). In October, the new company, DaimlerChrysler
Auto Finance (China) Ltd., began offering customer and dealer financing
and insurance services for its passenger cars and commercial vehicles in
China. DCAFC, headquartered in Beijing with approximately 50 employees,
will work closely with dealers first in Beijing, Shanghai and Guangzhou to
provide “One-Stop-Solutions” to their customers.
“DaimlerChrysler Financial
Services wants to make it as convenient as possible for customers to
purchase any of the broad range of passenger cars and commercial vehicles
we offer in China,” said Juergen Walker, Chairman of the Board of
Management of DaimlerChrysler Financial Services AG in Beijing. “Just as
we do in other markets, DCAFC will offer competitive rates and insurance
services for passenger car customers and commercial vehicle owners from
one source.”
“DaimlerChrysler offers the
broadest product portfolio and strongest automotive brands in China,” said
Dr. Till Becker, CEO of DaimlerChrysler Northeast Asia. “We have ambitious
plans to expand sales and local production of passenger cars and
commercial vehicles in China. The beginning of vehicle financing is a
milestone as it signifies that now all of the Group’s business units are
operating here – Mercedes-Benz Car Group, Chrysler Group, Commercial
Vehicle Division and DaimlerChrysler Financial Services.”
“We are grateful to the CBRC
and all the colleagues who have worked so hard to reach this milestone,”
said Dr. Wolf Bay, Managing Director of DaimlerChrysler Auto Finance
(China) Ltd. “We have established a strong team and are working together
with our dealers to provide the best services possible as we do worldwide.
Our goal is set to conclude about 3,000 financing contracts in 2006.”
DaimlerChrysler is investing
US$1.5 billion in China for its ongoing and future projects to realize
Mercedes-Benz passenger car and van production, relocate the former
Beijing Jeep Corporation and realize the production of heavy-duty and
medium-duty trucks. The Chrysler Group also recently announced its
intention to build the Chrysler 300C in Beijing, and license minivan
production in Fuzhou (PRC) and Yangmei (Tai-wan). The Company imports
passenger cars and commercial vehicles to China under the Mercedes-Benz,
Chrysler, Jeep® brands.
