Daimler Financial Services India Pvt. Ltd. (DFSI), a 100% subsidiary of Daimler AG celebrates its 3rd anniversary in India. DFSI offers a full range of financing and insurance solutions to dealers & customers of Mercedes-Benz India & Daimler India Commercial Vehicles. It is the only captive financial services provider offering an Operating Lease solution to customers in the premium car segment. DFSI today manages a healthy portfolio of over INR 2500 crore.
DFSI under its Mercedes-Benz Financial label is the leading financier of Mercedes-Benz cars in India today and under its BharatBenz Financial label, finances 1 out of every 3 BharatBenz trucks sold in the Indian market. Mercedes-Benz Insurance and Bharat Benz Insurance are the leading insurers of MB cars and BB trucks. During the first 3 years, over 2100 claims have been processed worth over 32 crores. The insurance business is operated as a corporate agency of Bajaj Allianz.
Sidhartha Nair, Managing Director of Daimler Financial Services India commented, “We went live on July 1, 2011, just 9 months after getting the Daimler Board of Management approval. Today we are a team of over 100 employees supporting all Daimler auto financing needs across India both for passenger cars and commercial vehicles. Nearly all Daimler dealerships use our financing solutions and our overall retail contract base has grown to over 9000. I would like to congratulate the DFSI team members on achieving this great milestone and am proud to lead this innovative and enthusiastic group.” He further elaborates, “It is thanks to the innovative and customized approach with sheer dedication displayed by the team that DFSI today is the first choice provider of financial services products for our dealers and customers. Nearly 70% of customers are opting for vehicle finance and thus understanding our customers better and being able to offer them a One-Stop customised solution in a quick and efficient manner is what differentiates us from others in the segment. This is evident from the fact that we have been enjoying continued patronage from our customers year after year”
Eberhard Kern, Managing Director & CEO, Mercedes-Benz India says, “Daimler Financial Services has been a key pillar to our India strategy and it played a pivotal role in our growth. Our customers have appreciated the value added by the financial programmes like Star Agility, Star Lease introduced by DFS India, which are one-of-its kind in the luxury car industry. DFS will continue to play a key role in our future strategies as we expect the current market to grow significantly higher in the foreseeable future and vehicle financing forming the backbone of our services for our discerning customers.”
Speaking about the association with DFSI, Sreeram Venkateswaran, Vice-President – Domestic Sales, Product Management and Network, Daimler India Commercial Vehicles (DICV) said, “We are extremely pleased with the association of DFSI, as they have become an integral part of our sales process. DFSI has always been proactive in offering the best financing solutions for our customers and is one of the preferred financiers of our trucks. Being Daimler’s own captive financing arm, the team has demonstrated great dedication since its inception in India and haswon the trust of BharatBenz and its customers. We, at DICV, wish DFSI team the best and look forward to a long-lasting relationship.”
