Daimler AG, the parent company of Mercedes-Benz, has launched its financial services unit in India. Daimler Financial Services, a 100% subsidiary of Daimler AG, is headquartered in Chennai and offers finance, insurance and leasing products to Mercedes-Benz customers and dealers. As of now, globally, Daimler Financial Services finances two-fifth of the Mercedes-Benz cars and one-fourth of commercial vehicles.
Moreover, Mercedes-Benz has almost doubled its sales in the year 2010 in comparison to the sales in 2009. Considering the fact that 75% of the Indian customers purchase vehicles through financing services, the company sees vast opportunities for the growth of their financial services unit under the brand ‘Mercedes-Benz Financial’ through integration with company dealerships across the country. Mr. Sidhartha Nair, Managing Director of Daimler Financial Services India, says that the company wants to provide its customers an efficient one-stop solution for purchasing and financing of vehicles.