BMW and Daimler Merge Mobility Services Divisions

BMW Group and Daimler AG will merge their respective mobility service divisions into a 50/50 joint venture, while still maintaining competition within their core businesses, the companies announced in a joint statement today. The venture is a “clear sign” that the mobility market is “maturing,” Grayson Brulte, a consultant and co-founder of Brulte & Company, told Auto Finance News. […]
  • Emma Sandler
  • March 28, 2018
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Mercedes-Benz Bank to Launch Subscription Service

The financial arm of Mercedes-Benz said today that it will soon launch a subscription service called “Mercedes me Flexperience.” Mercedes said the pilot program will be launched through its Mercedes-Benz Bank in Europe “in the next few weeks.” In January, reports surfaced that Mercedes-Benz was planning to pilot a car subscription service this year. Mercedes me […]
  • William Hoffman
  • March 8, 2018
  • 0

Daimler Financial Grew Portfolio 6% in 2017 Amid Mobility Push

Daimler Financial Services grew its portfolio 6% year over year to $174.6 billion USD (139.9 billion Euro) in 2017, amid the company’s strong push into mobility services, according to the company’s fourth-quarter earnings released today. The captive originated 1.9 million new financing and leasing contracts in 2017, a 14% year-over-year increase from the year prior. […]
  • Emma Sandler
  • February 1, 2018
  • 0

Daimler Mobility Services Acquires French Uber Competitor

Daimler Mobility Services — which is under the operation of Daimler Financial Services — acquired a majority stake in Chauffeur Privé, a private-hire vehicle service in France, yesterday. Daimler Mobility Services now controls more than 50%, with the intention to fully acquire Chauffeur Privé by 2019, the company said in an announcement. Financial details were […]
  • Emma Sandler
  • December 22, 2017
  • 1

China Ripe for Auto Finance Boom as Consumer Penetration Rate Rises

Since 2009, China has surpassed the United States as the largest market for new-vehicle sales, according to Deloitte Consulting LLC. And now, auto finance is starting to catch up. For many years, the Chinese automotive market has been propped up by government incentives like tax breaks, which encouraged customers to purchase cars. So far, this […]
  • Emma Sandler
  • December 20, 2017
  • 1

Daimler Financial Services Launches Startup Incubator

Daimler Financial Services debuted a startup incubator at the 2017 Web Summit in Lisbon, Portugal, earlier this month, called Startup Intelligence Center (SIC). The incubator will focus on mobility, finance, and insurance services, according to a company statement. Entrepreneurs are able to pitch to the SIC, whereupon a jury of Daimler employees — from various areas of […]
  • Emma Sandler
  • November 22, 2017
  • 1
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