“We’ve achieved the turnaround, and we expect to once again make a contribution to the Group's earnings even though we had the toughest year in our company’s history,” Jurgen Walker, Daimler Financial chairman said in a release.
In addition to the positive numbers, Daimler also expects a market share increase. The Daimler-built vehicles financed through the company increased by 40 percent. Daimler says however contract volume decreased by seven percent, reaching 58.7 billion euros between the end of 2008 and the end of the third quarter 2009. New business decreased by 17 percent, reaching the 18.4 billion euros for the first three quarters of the year.
“We had sufficient liquidity to maintain a strong market presence throughout the whole year and provide our customers with affordable loans,” Walker added.
For the insurance side of the business, Daimler announced it will form alliances with large insurance companies. By doing so, the company will be able to expand the volume of its insurance business in nearly 40 markets worldwide.
“By performing accident repairs at our own workshops, we are ensuring that our customers get the promised quality and also generating additional earnings for our services business through the use of genuine spare parts, for example,” Walker concluded.
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