Daimler Truck officially became an independent company today, forming a separate operation from its former parent company Mercedes-Benz passenger car division, with the truck operation becoming an independent global commercial vehicle manufacturer which the truck operation says will allow for a sharper focus on commercial vehicle customers.
Daimler Truck says that the global changes will enable its business to continue delivering class-leading Mercedes-Benz, Freightliner and Fuso trucks and buses into the future as it moves towards zero emissions.
The move has also seen Daimler Truck and Bus Australia Pacific grow its workforce as it takes on previously shared internal services, but says that the big news for customers is the creation of a new dedicated truck and bus finance company; Daimler Truck Financial Services.
Previously, Daimler’s commercial vehicle finance offerings were provided by Mercedes-Benz Financial Services, the same finance company that delivers finance for Mercedes-Benz passenger vehicle customers.
From now on, Daimler Truck Financial Services will be wholly dedicated to truck and bus customers, through the established Daimler Truck and Bus dealer network.
Experienced commercial vehicle finance executive, Craig Cubitt, has been appointed chief executive officer of the new organisation that will be based at Daimler Truck and Bus headquarters in Mulgrave, Victoria.
Daimler Truck and Bus Australia Pacific president and CEO, Daniel Whitehead, said the independence of Daimler Truck is a big plus.
“We are excited that Daimler Truck is now a standalone global entity because we know that independence will make us more nimble and enable us to continue making the investments needed to develop the best trucks, buses and associated services of the future,” he said.
The creation of a dedicated financial services company for Daimler Truck and Bus customers is also a welcome development, says Whitehead.
“Running a fleet of trucks or buses is very different to operating a passenger vehicle and the finance requirements they need for their business are also unique. We are excited that Craig and his entire team will now be able to focus solely on our truck and bus customers and provide them with the best and most innovative commercial vehicle financial products and services,” he said.
Craig Cubitt said the Daimler Truck Financial Services team, which has extensive industry experience in Australia, is perfectly positioned to deliver the best products and services to Daimler Truck and Bus customers.
“We aim to be a truly customer-focused organisation that puts our truck and bus customers at the centre of everything we do,” Cubitt said.
“Our new structure as a stand-alone finance company means we can serve our truck customers and dealers better than ever before.”
Daimler Truck Financial Services says that it offers a wide range of financial solutions, including business asset loans, hire-purchase, and lease products, as well as some unique innovative solutions that are not available anywhere else in the industry.
the company also says it will offer two unique and exclusive products including something it calls, Fast Track Finance, which offers a fast streamlined approval process, as well as the popular Daimler Guaranteed Buy Back program, which provides customers a guaranteed future value on their Daimler truck right from the beginning of their contract.
The company says that the Daimler Guaranteed Buy back is unlike traditional loans, as it also offers several options at the end of contract including the option to hand back the truck or alternatively, the customer can choose to retain the truck or trade it in for a new one.
