Daimler Trucks launches new financial services business

Daimler Trucks has launched a new financial services business to help support Mercedes-Benz and FUSO trucks customers.

The new business aims to help drive the take-up of alternatively fuelled vehicles and its range of purchase and leasing products, as well as insurance products it will be introducing next year in the UK, can be tailored to meet the needs of commercial and passenger-carrying vehicle operators, the company said.

Daimler Truck Financial Services is part of Daimler Truck AG. Prior to the UK launch, the business was operating in 11 markets on six continents.

Further expansion of the business is planned this year in Turkey and Spain, and thereafter in Germany and France. The business has a global contract volume of €18bn.

Stephan Unger, member of the board of management of Daimler Truck AG for Financial Services, and chief executive of Daimler Truck Financial Services, said: “We are very happy to welcome our new colleagues in the UK, which is an important market for us and plays a key role in our global strategy.

“All over the world we see growth opportunities for new finance products and service solutions to support the transfer to e-transportation or in connectivity services.”

The launch follows the spin-off of Daimler Truck from its former parent company Daimler AG in December 2021.

Operators of trucks, buses and coaches bearing the three-pointed star, and light trucks with the FUSO three diamonds badge, were previously served in the UK by Mercedes-Benz Financial Services, which continues to fund passenger cars and vans. Their agreements have been transferred to Daimler Truck Financial Services on the same terms.

The UK team is led by managing director Nick Andrews and shares its headquarters in Milton Keynes with Mercedes-Benz Trucks UK.

Andrews said: “This is a tremendously exciting time to be launching our new business, not least because of the alternative fuels revolution now underway. UK operators can already choose battery-electric rigid trucks such as the FUSO eCanter and Mercedes-Benz eActros.

“Other vehicles that produce zero tailpipe emissions such as the low-entry eEconic and the eCitaro citybus are just around the corner, while customer testing of the eActros LongHaul tractor unit begins next year, and the first hydrogen fuel cell-powered Mercedes-Benz GenH2 Trucks will be on UK roads by the end of the decade.”

At the end of 2021, Mercedes-Benz reached an agency model agreement with its retailers which will lead to the new retail framework's introduction in the UK from 2023.