Daimler Financial Services is launching a vehicle leasing
business in China, after it won approval from the China Banking
Regulatory Commission at the end of February.
Mercedes-Benz Auto Finance China (MBAFC), a subsidiary of
Germany’s Daimler FS, will be the first auto finance company to
offer vehicle leasing in China.
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Ulrich Walker, CEO of Daimler Northeast Asia, welcomed the
Chinese government’s decision, which is expected to have a positive
impact on the country’s vehicle market.
He said: “While leasing is very new in China, we believe it has
potential to grow over the mid-term, especially as consumers
understand more about the flexible and attractive financing options
available.”
MBAFC will initially focus on fleet leasing to companies in
Beijing, and subsequently expand the offer to consumers through its
retail outlets throughout China. It will finance Mercedes-Benz
cars, trucks and vans.
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