DaimlerChrysler Financial Services will separate Mercedes-Benz and truck financial operations from Chrysler Financial when Daimler sells its Chrysler Group but employees will remain in Michigan.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

According to the Associated Press (AP), DaimlerChrysler Financial on Monday said that it would transfer 400 employees in the Mercedes and truck business units to an office building near DaimlerChrysler Financial’s current Americas headquarters in the Detroit suburb of Farmington Hills and added that those 400 workers would remain employees of the new Daimler once the sale of Chrysler Group to Cerberus Capital Management is completed in the third quarter.


The 800 people who now work for Chrysler Financial will stay at the current headquarters and work under Cerberus, AP added.


The split could create another 200 jobs across North and South America, with about 100 of them in Oakland County, Michigan, DaimlerChrysler Financial said in a statement cited by the news agency.


Company spokesman Jack Ferry would not comment to the Associated Press on whether Chrysler Financial operations eventually would be consolidated into GMAC Financial Services.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The news agency noted that Cerberus and a consortium of investors last year bought a majority stake in GMAC from General Motors for about $14bn and analysts have said buying a big stake in Chrysler would allow Cerberus to combine GMAC operations with Chrysler Financial.


DaimlerChrysler Financial Services employs 5,600 people nationwide in the US, the report added.