Category: Automotive

Mahindra & Mahindra to take 16 percent stake in Zoomcar

In November 2017, Mahindra Electric and Zoomcar launched 20 Mahindra e20 PLus EVs for hire by residents and visitors in Mysore.  Mahindra & Mahindra (M&M) has announced that it is to invest in Zoomcar India and in Zoomcar Inc, its US incorporated holding parent company, in line with the automaker’s thrust on the shared mobility… Continue reading Mahindra & Mahindra to take 16 percent stake in Zoomcar

U.S. SAAR History by Month, 1980-current

Feb 12, 2018 U.S. vehicle sales SAAR (seasonally adjusted annual rates) by vehicle type and source by month for 1980-current. Premium Content (PAID Subscription Required) “U.S. SAAR History by Month, 1980-current” is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access… Continue reading U.S. SAAR History by Month, 1980-current

Roll Out with Lyft and Baltimore Bike Share

For nearly a decade, Lyft has been on a mission to improve people’s lives with the world’s best transportation. In Baltimore, this means working to provide city residents with access to multiple modes of transportation. That’s why we’re excited to announce the start of our three-year partnership with Baltimore Bike Share. We’ll be providing Baltimore… Continue reading Roll Out with Lyft and Baltimore Bike Share

Lyft’s Baltimore deal turns bike sharing stops into pickup points

Isaac Brekken/Getty Images for Lyft Uber isn’t the only ridesharing outfit with an interest in bike sharing. Lyft has formed a partnership with Baltimore Bike Share that will launch hybrid pickup points and bike sharing hubs across the Maryland city. The aim, of course, is to help you switch transportation methods with a minimum of… Continue reading Lyft’s Baltimore deal turns bike sharing stops into pickup points

Ford overhauls China operations: ‘Bear with us’

Peter Fleet, then the Vice President, Marketing, Sales and Service, Asia Pacific, Ford Motor Company, announces in April 2017 that the Ford Ranger midsize pickup will be available to Chinese customers in 2018. (Photo: Ford Motor Company) Ford Motor Co. is resetting its China operations, moving some workers back to the U.S. and hiring Chinese… Continue reading Ford overhauls China operations: ‘Bear with us’

All-electric Vauxhall Corsa will arrive in 2020

Vauxhall has confirmed that the next-generation Corsa – due next year – will feature a fully electrified variant, which will roll off production lines at the brand’s plant in Zaragoza, Spain, in 2020. PSA, which also owns Peugeot, Citroen and DS, took over Vauxhall and its German sister marque Opel in 2017. Late last year, the… Continue reading All-electric Vauxhall Corsa will arrive in 2020

Record year 2017: Daimler Financial Services increases its operating results to around two billion euros

15.

February 2018

Stuttgart

Press Contact for this Press Release (1)

Florian Otto

Manager Global Corporate Communications Financial Services

florian.otto@daimler.com

Tel: +49 711 2574-5868

Fax: +49 (0) 711 2574-8211

Contract portfolio grows by 12% to 4.8 million vehicles to 140 billion euros Further contract growth expected for 2018 New Board seat created for Customer Experience Officer Bodo Uebber, responsible for Finance & Controlling and Daimler Financial Services on the Board of Daimler AG: “We are using the best results in our company's history to systematically drive forward the extension of our digital divisions.” 2017 was the most successful financial year in the company’s history for the provider of financial and mobility services, Daimler Financial Services. With worldwide growth of 14% in new business volume compared to the previous year, the company was able to substantially better 2016 results. EBIT stood at €1.97 billion, corresponding to an increase in profit of around 13% compared to 2016.
Bodo Uebber, responsible for Finance & Controlling and Daimler Financial Services on the Board of Daimler AG, says: “The very good results were driven by customized services and a premium portfolio, which were decisive in the most successful year in the history of Daimler Financial Services. We are using furthermore our financial might to systematically drive forward the extension of our digital divisions for mobility and financial services.”
4.8 million units: portfolio increased by 12%
The portfolio of vehicles financed and leased worldwide increased by 12% to 4.8 million units (2016: 4.3 million), which equals a volume of around €140 billion. In the course of 2017, Daimler Financial Services concluded 1.9 million new financing and leasing contracts to a total value of €70.7 billion, an increase of 14% over the previous year. “More than half of all vehicle sales by Daimler were supported by Daimler Financial Services in 2017,” says Klaus Entenmann, Chairman of the Board of Management of Daimler Financial Services AG. “We are expecting further growth in contract volume for 2018.”
Significant increase in new business in Europe and Asia
In the European region, Daimler Financial Services concluded 968,000 new financing and leasing contracts to a value of €31 billion (+15%). In the Africa & Asia-Pacific region (without China), new business once again increased considerably by 16% compared to the previous year, amounting to €8.4 billion. China is posting by far the highest growth rate: in 2017, more than 300,000 new contracts with a value of €9.5 billion were completed, an increase of 56%. New business in North and South America was at the previous year's level.
Strong growth in mobility services and the insurance business
A total of 17.8 million customers are registered to use Daimler Financial Services in more than 100 cities across Europe, China and the Americas. In 2017, over 100 million transactions were carried out with customers—more than twice as many as in the preceding year. Beyond car2go, moovel and mytaxi, Daimler Mobility Services has shareholdings in innovative mobility services around the world, including Blacklane and Flixbus, among others.
In 2017, Daimler Insurance Services also issued around 2.1 million insurance policies—an increase of 20%. A telematics-based insurance program, named “Inscore,” was newly developed and successfully introduced in the French, Belgian and German markets.
Key topics: digitization of financial and mobility services
With the appointment of Benedikt Schell as Chief Experience Officer (CXO), Daimler Financial Services AG expanded its Board of Management with a new business area. In this role, Schell is responsible for the expansion of digital business models in the area of financial and mobility services, as well as for the global customer and digital strategy. Jörg Lamparter is the Head of Mobility Services and responsible for the offerings (i.e. car2go, moovel and mytaxi) pooled under the umbrella of Daimler Financial Services, and stakes in Blacklane, Careem, Chauffeur Privé, FlixBus and Turo.
Gülnaz Önes, the new Chief Technology Officer (CTO) in the IT unit of Daimler Financial Services, will be strategically responsible for the transformation into a fully integrated, digital provider of mobile services globally.
Klaus Entenmann: “The organizational changes now made with the addition of the CXO and CTO, and the consolidation of our mobility services, are investments in our areas of future strategic importance. The aim is to offer convenient, safe, intuitive and mobile services for our private and business customers in future.”

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German firm to design successor to Land Rover Defender

Jaguar Land Rover German firm to design successor to Land Rover Defender Ineos chairman hands contract to MBtech to create and produce prototypes of ‘world-class 4×4’ Jaguar Land Rover stopped making the Defender in 2016. The successor vehicle could be built in the UK. Photograph: Toby Melville/Reuters Jim Ratcliffe, the multibillionaire chemicals tycoon and Brexit… Continue reading German firm to design successor to Land Rover Defender