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A strong start

Daimler Financial Services posts growth in unit sales and revenue in first quarter of 2018

  • Global increase of 6% in new business compared to the same period last year
  • 494,000 new lease agreements and financing contracts worth €17.9 billion were signed
  • Contract volume reached a value of €141.6 billion at the end of March; after the adjustment for currency effects,  growth in contract volume was 2%
  • EBIT amounted to €548 million ( €524 million in 2017)
  • In its insurance business Daimler Financial Services brokered 523,000 contracts in the third quarter (up 12% in Q1 2017)
  • The total number of users of  mobility services increased to 21.4 million customers worldwide

Bodo Uebber, Member of the Board of Management of Daimler AG responsible for Finance & Controlling and Daimler Financial Services: “We made a good start to the year and have continued investing in the future. With our strong balance sheet and good earnings, we are setting the course for a successful future for the company and for mobility.”

Strong alliance for a unique mobility offer

The BMW Group and Daimler AG are combining efforts to offer their customers services for sustainable urban mobility in the areas of car sharing, ride hailing, multi-modal solutions, as well as parking and charging - all from a single portfolio. To this end, the two companies signed an agreement on March 28, 2018 to combine their business units for mobility services.

In the future, the partners aim to offer their customers an end-to-end ecosystem of mobility services which is intelligent, seamlessly networked and available at the touch of a button. The mobility services provided by Daimler Financial Services alone, including car2go, moovel and mytaxi, attracted around 21.4 million customers worldwide in the first quarter of 2018, accounting for 37.5 million transactions in over 100 cities around the world. The joint venture is subject to examination and approval by the responsible antitrust authorities.

Again a Great Place to Work in 2018

For the second year in a row, Daimler Financial Services has been voted the best employer in Germany by the renowned Great Place to Work Institute. “This commendation is the best proof that we are heading in the right direction both in terms of our core values and with our Leadership2020 initiative,” says Klaus Entenmann. “I am certain that by following this course, our culture at Daimler Financial Services will continue to make a difference. We can only prevail as a mobility service provider in a highly competitive market if we deliver innovative products that are perfectly adjusted to the needs of our customers. This is only possible with highly motivated employees who have the desire to achieve the best through commitment and enthusiasm.”

Outlook

Daimler Financial Services anticipates further growth in contract volume in the year 2018. This will be primarily driven by the strong development of new business in 2017, which should continue at the same high level this year. The division will utilize new market potential above all in China, as well as through new and digital possibilities for customer contacts – in particular by systematically further developing its online sales channels.