Merc fin serv biz in India by next year | autos | Hindustan Times
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Merc fin serv biz in India by next year

German luxury carmaker Mercedes Benz on Friday announced that it will bring its subsidiary Daimler Financial Services in India by next year at an estimated investment of $50 mn (R230 crore).

autos Updated: Oct 01, 2010 22:56 IST
HT Correspondent

German luxury carmaker Mercedes Benz on Friday announced that it will bring its subsidiary Daimler Financial Services in India by next year at an estimated investment of $50 mn (R230 crore).

The announcement comes barely 4 days ahead of arch rival BMW's launch of its own financial services business. Mercedes said it will provide five broad services under the Daimler Financial services banner — financing and leasing, dealer financing, fleet management, insurance and banking for private and commercial customers, dealers and the group at large.

"Globally there is a trend towards customised all inclusive packages and we believe this will gain ground in India," said Wilfried Aulbur, MD and CEO, Mercedes Benz India.

So far this year, Mercedes has sold 4,158 units in the country.