Mercedes 2004 Annual Report Download - page 73

A stronger position in all key European markets. In 2004,
the Services division also improved its competitive position
in Europe as a captive finance company. This was particularly
true with regard to business development in Germany, our
most important European market.
DaimlerChrysler Bank continued with the expansion of its core
areas of leasing and financing in 2004. New business increased by
9% to €8.2 billion, and contract volume was up 10% to €14.5
billion. DaimlerChrysler Bank also expanded its portfolio in 2004
to include attractive new products such as auto insurance, an
investment certificate, the small-format smart VISA Card, a com-
bined program including account and credit card, and a dual
investment package consisting of a money-market account and
a mutual fund. Customer deposits at DaimlerChrysler Bank
totaled €3.1 billion at the end of the year (end of 2003: €3.1 billion),
the number of credit cards issued increased to 290,000 (+17%).
The bank served 926,000 customers in 2004, or 10% more than
in 2003.
DaimlerChrysler Services’ portfolio in the other European
countries grew significantly in the year under review (+6% to
€10.6 billion). Particularly high growth was registered in the
United Kingdom (+11%) and Sweden (+33%). Business develop-
ments in the new EU member states were also very dynamic:
Services’ portfolio in Poland, Hungary, the Czech Republic,
Slovakia and Slovenia grew by an average of 16% to a total of
€815 million.
Positive business developments in Latin America and Asia.
The portfolio in the Latin America/Africa/Middle East region
totaled €1.9 billion at the end of 2004 (end of 2003: €1.4 billion).
Economic conditions in Latin America improved throughout the
course of the year, a development that had a positive impact on
our Brazilian leasing and sales-financing activities in particular.
The Latin American portfolio, which primarily consists of com-
mercial vehicles, grew by 60% to €527 million. In South Africa,
we succeeded in increasing our leasing and financing volume
by 37% to €1.2 billion.
Our portfolio in the Asia/Pacific region grew by 5% to €3.2 billion,
with 45% of this figure being accounted for by the Japanese
market. In China, preparations continued for the launch of our
financing activities in that country: In November we received
a provisional permit to commence business activities, and
DaimlerChrysler Services plans to support sales of Group vehicle
brands in China with its own financing company.
Fleet-management activities further expanded. The Fleet
Management unit expanded its worldwide vehicle fleet by 14% to
383,300 units in 2004, gaining numerous new customers by
offering attractive new products, particularly in European markets.
We currently offer customers fleet-management services in
11 countries around the world, with a particular focus on Europe.
Smooth start for truck toll system in Germany. Following the
successful execution of important tests of the satellite-based
toll-collection system and a full trial confirming the functionality
and compatibility of the various system components, Toll Collect
was granted a special provisional operating permit at the end of
2004. The toll system then started smoothly on January 1, 2005.
This start fulfilled the agreement of February 2004 between the
German federal government and the operator consortium, Toll
Collect, to begin collecting tolls for trucks over 12 metric tons gross
vehicle weight on German autobahns on the first day of 2005.
At present, the first version of the on-board units (OBU1) is in use.
As of January 1, 2006, it is planned to extend the system’s
functionality with the second version of the on-board units (OBU2).
It will then be possible to update the road-pricing system and
road-network information by radio. DaimlerChrysler has a 45%
shareholding in Toll Collect.
Everything from a single source at DaimlerChrysler Bank.
Together with the colleagues from the Insurance Services department, Dalibor Rezic and
Tom Schneider developed the new vehicle insurance offered by DaimlerChrysler Bank.
This product provides the customers not only with an excellent insurance policy, but also
with a simple process for making applications at dealerships. Customers now receive
everything they need from a single source: the vehicle, the financing and the insurance
coverage.
Insurance the easy way.
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