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  • For the first time ever, Daimler Financial Services’s contract volume passed the mark of three million vehicles in 2013.

For the first time ever, Daimler Financial Services’s contract volume passed the mark of three million vehicles in 2013.

Daimler Financial Services.

At Daimler Financial Services, the number of financed or leased cars and commercial vehicles passed the three-million mark for the first time ever. New business and contract volume reached new record levels. The division also set a new record for brokering automotive insurance policies. At the end of 2013, the car-sharing program car2go had almost 600,000 customers and was the market leader in its segment. Once again, customers and dealers alike gave the Daimler Group’s financial services division very high marks.


Daimler Financial Services
  2013 2012 13/12
Amounts in millions of euros     % change
EBIT 1,268 1,293 -2
Revenue 14,522 13,550 +7
New business 40,533 38,076 +6
Contract volume 83,539 79,986 +4
Investment in property, plant and equipment 19 23 -17
Employees (December 31) 8,107 7,779 +4

Contract volume of more than three million vehicles. The business operations of Daimler Financial Services once again developed favorably in 2013. The company concluded nearly 1.2 million new financing and leasing contracts worldwide in the year under review, the total number of all financed or leased vehicles passed the three-million mark for the first time. New business increased by 6% to €40.5 billion, thus setting a new record. Contract volume increased by 4% to a record value of €83.5 billion. Adjusted for exchange-rate effects, the increase amounted to 11%. EBIT of €1,268 million was in the magnitude of the prior-year level (2012: €1,293 million). (See table D.09)

Daimler Financial Services | Corporate Movie

Successful business development in Europe. Daimler Financial Services concluded new financing and leasing contracts worth €19.4 billion in the Europe region (+7%). Business development was especially dynamic in the Benelux countries (+26%), the United Kingdom (+21%) and Turkey (+13%). In Germany, Mercedes-Benz Bank’s new business increased by 1% to €9.2 billion; the volume of deposits in the direct banking business was €11.3 billion (-7%). At the end of the year, Daimler Financial Services’ contract volume in Europe amounted to €37.3 billion, representing an increase of 8%.

Gains in North and South America. New business in North and South America reached €15.5 billion, topping the high level of the previous year by 6%. In the United States, new business grew by a further 10% compared with 2012. There were strong gains also in Argentina (+22%) and Mexico (+10%). Contract volume in the Americas region reached €34.6 billion, representing an increase of 2%. Adjusted for exchange-rate effects, the increase amounted to 9%.

Strong demand in Africa & Asia-Pacific. In the Africa & Asia-Pacific region, new business increased compared with the previous year by 6% to €5.6 billion. Business development was especially dynamic in India (+96%) and Thailand (+56%). Contract volume at the end of 2013 was €11.6 billion, increasing by 2% compared with a year earlier. Adjusted for exchange-rate effects, this represents an increase of 19%.

Record set for automotive insurance brokerage. In the year under review, Daimler Financial Services brokered approximately 1.27 million automotive insurance policies. This represents an increase of 20% compared with the previous year and is a new record. The development of demand for our insurance policies was particularly good in India (+208%) and Turkey (+145%). In China, an average of six out of ten cars with the star were delivered with an insurance policy brokered by us. Thanks to our cooperation with major insurance companies, Mercedes customers receive attractive insurance conditions for their vehicles and can have their automobiles repaired in authorized workshops in the case of damage.

Growth also in the business with commercial customers. In 2013, Daimler Financial Services once again helped individual commercial customers, medium-sized companies and major international corporations in numerous countries to finance and manage their vehicles and fleets. New business stood at 146,000 units, which represents a 16% increase on the previous year. A total of 357,000 contracts with commercial customers were on the books — a 9% increase compared with 2012. In addition, Daimler Fleet Management realigned its activities and expanded its presence in Europe. In the United Kingdom for example, Daimler Fleet Management has been offering attractive services for multi-brand fleets in cooperation with its partner Leasedrive since the fourth quarter of 2013.

car2go with nearly 600,000 customers. In 2013, we continued to expand our business operations in the area of innovative mobility services. At the end of the year, the car2go mobility concept was represented in 25 cities in Europe and North America and was operating a fleet of more than 10,000 smart fortwo cars. In 2013, car2go attracted more than 300,000 new customers worldwide, thus more than doubling its customer base compared with the end of 2012. With a total of nearly 600,000 customers, car2go was the market leader in the segment of flexible short-term car rentals. The moovel mobility platform, which intelligently connects various mobility services with one another and shows customers how best to get from point A to point B via various means of transportation, was launched in 2013 in the cities of Nuremberg and Munich and in the Rhine-Ruhr region. In addition, the Park2gether pilot project was launched in Berlin and Hamburg in November. This innovative project uses an online exchange to bring together parking space owners and drivers seeking a parking space.

car2go Video Tutorial

Expansion of digital sales channels. In 2013, Daimler Financial Services expanded the online availability of its products in order to remain close to its customers in the digital world as well. With the help of websites and apps that are clearly organized and easy to use, customers can access comprehensive information about the company’s services and can find out the monthly installments for their chosen car. In many countries, existing customers can also use online portals to review their contract data and make any desired changes. In the United States, some of these functions have already been directly integrated into Daimler vehicles’ onboard infotainment systems.

High levels of customer and dealer satisfaction. The outstanding quality of the services provided by Daimler Financial Services once again received numerous honors in the year under review. In Germany, the industry magazine “Autohaus” named Mercedes-Benz Bank the best provider of automotive financial services in the premium segment for the fifth year in succession. In addition, the “Autohaus” insurance monitor once again named Mercedes-Benz Bank as by far the best provider of automotive insurance in the premium segment. The financial services offered by Mercedes-Benz Bank also took first place in a test purchase study commissioned by the automotive magazine “Automobilwoche.” In a survey of dealer satisfaction in the United Kingdom, Daimler Financial Services’ national subsidiary beat its competitors for the seventh time in a row. In the United States, Mercedes-Benz Financial Services took first place for the third consecutive year in the “Floorplan Satisfaction” category of a dealer financing study conducted by J.D. Power. In China, the call center of the Mercedes-Benz Auto Finance Company China was honored as the country’s best call center in its class.

A highly attractive employer. In the survey conducted in 2013 by the independent “Great Place to Work” institute, Daimler Financial Services once again stood out as an attractive employer. The national subsidiaries of Daimler Financial Services were among the favorite employers in Portugal, the Netherlands, Turkey, China, South Korea, Canada and Mexico. For some of the national subsidiaries, this was a repeated honor.

Toll Collect continued to operate smoothly in 2013. This automatic system for toll collection on German highways continued to operate smoothly and reliably in 2013. Approximately 775,300 onboard devices for automatic toll collection were in operation at the end of the year. A total of 27.2 billion kilometers driven was recorded during the year under review. Daimler Financial Services holds a 45% equity interest in the Toll Collect consortium.