Daimler Truck Financial Services Launches Operations
Introduction of Daimler Truck Financial Services Daimler Truck Financial Services (DTFS), a new financial service provider, officially launched on December 1, 2021, in seven countries: Australia, Brazil, Japan, Canada, Mexico, South Africa, and the USA. The company’s expansion will continue into 202
Introduction of Daimler Truck Financial Services
Daimler Truck Financial Services (DTFS), a new financial service provider, officially launched on December 1, 2021, in seven countries: Australia, Brazil, Japan, Canada, Mexico, South Africa, and the USA. The company’s expansion will continue into 2022 and 2023, with plans to enter additional global markets, including Argentina, Belgium, the Netherlands, the UK, Italy, Spain, and Turkey.
Projected Growth and Portfolio
By the end of 2022, DTFS aims to build a contract portfolio worth approximately €21 billion in leasing, financing, and insurance services. With planned operations in Germany and France in 2023, DTFS anticipates further growth, positioning itself as one of the world’s leading financial service providers for commercial vehicles, supported by about 1,900 employees across 16 countries.
Support for Daimler Truck’s Sales
Stephan Unger, a member of the board of management for Daimler Truck AG in charge of Financial Services and CEO of DTFS, highlighted the rapid establishment of the company within just ten months, emphasizing the start-up spirit. He noted that DTFS will bolster sales for all truck and bus brands under the Daimler Truck umbrella.
Opportunities for Expansion
Beyond its initial services, DTFS is poised for further expansion through innovative financial products. These include usage-based solutions like dynamic leasing and dynamic insurance, launching immediately in markets such as Japan and the USA. The upcoming pilot phase of “Dynamic Insurance” reflects DTFS’s commitment to flexibility and client needs.
Embracing Electrification and Connectivity
As the transport sector shifts towards e-mobility, DTFS aims to explore new financial services related to charging infrastructure, battery leasing, and fleet management. Additionally, integrating connectivity services such as payment systems stands to bolster future business opportunities within the organization.
Independence from Daimler Mobility
DTFS is a dedicated division within the Daimler Truck Group, established as part of a strategic reorganization separating truck and bus operations from passenger cars and vans. Currently, 25% of Daimler trucks and buses are financed or leased through Daimler’s financial services, with a goal to increase this figure to 30% in the medium term.
Management Structure
DTFS is coordinated by Daimler Truck Financial Services GmbH (DTFS GmbH), headquartered in Leinfelden-Echterdingen near Stuttgart. The management team includes CEO Stephan Unger, CFO Eva-Marie Lander, Bernd Barth for Europe & South America, Richard Howard for North America & Asia, and Dr. Kerstin Neumann overseeing Legal and Compliance matters.