Daimler Financial Services recorded earnings before interest and tax of nearly €1.1 billion ($1.4 billion) through September 2014, up 14% from the same period the year before, and the highest in the company’s history. For the first 10 months of 2014, Daimler FS initiated 1.1 million new financing or leasing contracts globally, worth €38 billion ($47 billion). The German company said its car-sharing subsidiary Moovel GMbH is on course to generate €100 million ($125 million) of revenue in 2014. Klaus Entemann, chairman of the Daimler DS board of management, said 2014 had been “one of the best years in our company’s history.”
In the U.K., Mercedes sold 107,837 cars in the first 10 months of 2014, up 13.6% on the same period in 2013, giving it a 5.04% marketshare, according to the Society of Motor Manufacturers and Traders. Daimler said future growth would be generated by increasing revenues in developing markets such as China and India, new models, and more flexible terms designed with younger customers in mind.
—Courtesy Motor Finance
