DaimlerChrysler Services, the vehicle financing company of DaimlerChrysler Group, received initial approval from the China Banking Regulatory Commission (CBRC) to set up a vehicle financing company in China. The initial approval is the first step in establishing vehicle financing in China, which the company expects to be operational in the second half of 2005.
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“Vehicle financing is becoming more important to customers when considering purchasing new vehicles”, said Dr. Rüdiger Grube, Member of the Board of DaimlerChrysler AG, responsible for Corporate Deveopment and all Company activities in China. “The approval to set up vehicle financing in China is a milestone for DaimlerChrysler as it signifies that now all of the Group’s business units will be present here – Mercedes-Benz Car Group, Chrysler Group, Commercial Vehicle Division and DaimlerChrysler Services. We are confident that with our new team of DaimlerChrysler Services representatives in China this operation will be successful.”
“DaimlerChrysler Services wants to make it as easy as possible for customers to purchase any of the broad range of passenger cars and commercial vehicles we offer in China,” said Bodo Uebber, CEO of DaimlerChrysler Services AG and Member of the Board of Management of DaimlerChrysler AG, responsible for Financial Services.
“Just as we do in other markets, DaimlerChrysler Services will offer very competitive rates for passenger car customers and fleet owners from one source. We believe there is tremendous potential to grow our business here in China, and look forward to being operational next fall.”
