DEDICATED DAIMLER TRUCK/BUS FINANCE LAUNCHED POST CAR SPLIT

By: Fabian Cotter, Photography by: courtesy Daimler Australia Pacific + Fabian Cotter


FOLLOWING Daimler Truck and Bus Australia Pacific completing its separation from the local Mercedes-Benz passenger car division, Daimler Truck – now with its own new finance company - became an independent global commercial vehicle manufacturer, allowing for a “…sharper focus on commercial vehicle customers,” it reports.

DEDICATED DAIMLER TRUCK/BUS FINANCE LAUNCHED POST CAR SPLIT
“Running a fleet of trucks or buses is very different to operating a passenger vehicle and the finance requirements they need for their business are also unique,” explained Daimler Truck and Bus Australia Pacific president and CEO, Daniel Whitehead.

The global changes will enable the Daimler Truck business to continue delivering class-leading Mercedes-Benz, Freightliner and Fuso trucks and buses into the future as it moves towards zero emissions, it explains.

Daimler Truck and Bus Australia Pacific has grown its workforce as it takes on previously shared internal services, but the "big news for customers", it says, is the creation of a new dedicated truck and bus finance company: Daimler Truck Financial Services.

Previously, Daimler’s commercial vehicle finance offerings were provided by Mercedes-Benz Financial Services, the same finance company that delivers finance for Mercedes-Benz passenger vehicle customers.

From now, Daimler Truck Financial Services will be wholly dedicated to truck and bus customers, through the established Daimler Truck and Bus dealer network, it clarifies.

Experienced commercial vehicle finance executive Craig Cubitt has been appointed CEO of the new organisation, which will be based at Daimler Truck and Bus headquarters in Mulgrave, Victoria.

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(L-R):  Daimler Truck Financial Services Australia CEO Craig Cubitt and Daimler Truck and Bus Australia Pacific president and CEO Daniel Whitehead.

 

WELCOME DEVELOPMENT

Daimler Truck and Bus Australia Pacific president and CEO Daniel Whitehead says the independence of Daimler Truck is a big plus.

"We are excited that Daimler Truck is now a standalone global entity because we know that independence will make us more nimble and enable us to continue making the investments needed to develop the best trucks, buses and associated services of the future," he said.

The creation of a dedicated financial services company for Daimler Truck and Bus customers is also a welcome development, says Whitehead.

"Running a fleet of trucks or buses is very different to operating a passenger vehicle and the finance requirements they need for their business are also unique," he explained.

"We are excited that Craig and his entire team will now be able to focus solely on our truck and bus customers and provide them with the best and most innovative commercial vehicle financial products and services," he added.

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CUSTOMER FOCUSED

Cubitt says the Daimler Truck Financial Services team, which has extensive industry experience in Australia, is perfectly positioned to deliver the best products and services to Daimler Truck and Bus customers.

"We aim to be a truly customer-focused organisation that puts our truck and bus customers at the centre of everything we do," Cubitt stated.

"Our new structure as a stand-alone finance company means we can serve our truck customers and dealers better than ever before."

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ABOUT DTFS

Daimler Truck Financial Services (DTFS) offers a range of financial solutions, including: business asset loans; hire-purchase and lease products; as well as some unique, innovative solutions unavailable elsewhere in the industry.

DTFS will offer two unique and exclusive products: Fast Track Finance - which offers a fast, streamlined approval process; and the Daimler Guaranteed Buy-Back program - which provides customers a guaranteed future value on their Daimler truck right from the beginning of their contract, the company explains.

Daimler Guaranteed Buy-Back is unlike traditional loans, as it also offers several options at the end of contract including the option to hand back the truck, or alternatively the customer can choose to retain the truck - or trade it in for a new one.

According to Daimler Truck, no matter the selected option, the customer has confidence knowing the truck’s value will match the outstanding balance and avoid any negative equity.

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