Daimler Financial is expanding to UAE

Posted on Thursday, 8 October 2009 , 23:10:31 byEmil

Filed under daimleruaedaimler-financialmercedesfinanceleasingarabMercedesGerman

Daimler Financial is expanding to UAE

The German maker – Daimler's financial arm announced this week the opening of Mercedes-Benz Leasing and Mercedes-Benz Finance business in United Arab Emirates - Abu Dhabi. The all-new operations will run with Al Fahim Group (together), the Mercedes-Benz distributor (from the Emirates) and Gargash Enterprises, which is Mercedes' distributor in Dubai.

Juergen Walker, the CEO of Daimler Financial Services affirmed in Abu Dhabi 'Our presence in the United Arab Emirates is of high strategic importance for Daimler Financial Services. It makes us the first automaker to have its own finance and leasing company in the United Arab Emirates. Once we have successfully established our business operations here, in the mid-term we will decide about offering financial services in other Middle Eastern markets as well'.

Like the China case, Daimler Financial opened there its division earlier in 2009; the UAE is quite a growing Mercedes market. The state is the firm's most important one in the area, having 7,800 passenger vehicles and 3,100 commercial cars sold there last year.

'We are confident and expect stronger Mercedes-Benz sales. The start of our jointly owned financial companies will further boost the attractive­ness of the Mercedes-Benz brand in Abu Dhabi' Rashed A. J. Al Fahim, the chairman of Al Fahim Group stated on a conference.

Abdul Jabbar Gargash, director of Gargash Enterprises continued 'For the first time, we can now provide our Mercedes-Benz customers in Dubai, Sharjah and the Northern Emirates with a broad range of financial services products that make owning a new or used Mercedes-Benz the easiest it has ever been'.