View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Uncategorized
January 13, 2010updated 12 Apr 2017 4:28pm

Daimler and BMW reduced US leasing business in 2009 (Free)

German vehicle manufacturers Daimler and BMW reduced their leasing business in the US in 2009 to reduce losses, according to German business daily Handelsblatt According to the newspaper, which cited BMW sales chief Ian Robertson and Daimler sales chief Joachim Schmidt, both companies reduced their leasing business to around 50 percent, from 60 and 70 percent respectively.

By Antonio Fabrizio

German vehicle manufacturers Daimler and BMW reduced their leasing business in the US in 2009 to reduce losses, according to German business daily Handelsblatt.

According to the newspaper, which cited BMW sales chief Ian Robertson and Daimler sales chief Joachim Schmidt, both companies reduced their leasing business to around 50 percent, from 60 and 70 percent respectively.

BMW alone lost some €2 billion in its US leasing business in 2008.

Both Robertson and Schmidt, however, said that the US used car market has now stabilised. They believe that car sales could increase again this year, Handelsbatt newspaper said.    

Antonio Fabrizio

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Thursday. The leasing industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Leasing Life