MAN FS sees Russian growth MAN Financial Services has financed 5,500 units in Russia during the year to the end of August 2008, having entered the country 12 months ago
MAN Financial Services has financed
5,500 units in Russia during the year to the end of August 2008,
having entered the country 12 months ago.
According to Elliott Lennick, chief executive of MAN FS, the
captive company has a penetration rate of “about 23 to 24 percent”
in the financing of MAN equipment.
“Russia is a very big market, not just for MAN, but for every
truck and car manufacturer. Our penetration is already very good,
but our target is to reach 35-40 percent,” Lennick said.
He added: “We are seeing more and more requests from big
operators for orders around 300 vehicles.
“The average deal is between £600,000 [€742,483] and £1
million.”
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