Mercedes Benz Starts Financing Arm in India

Monday 08 December 2008, 00:00 AM by Rishi

The German luxury car maker is planning to launch its vehicle financing division in India to boost its passenger car sales. The company has witnessed a decline in sales in last two months due to tight liquidity and ongoing credit crisis.

“The financial crisis is finite and the markets will bounce back. We are committed to our investments in the country because we have gone through a similar period in the past. At this point, we are still evaluating the option of launching our vehicle finance services,” said Wilfried Aulbur, CEO and MD, Mercedes Benz.

The company has already surpassed its sales target for the current year due to robust demand in the month of September. It has sold about 220 trucks and 3280 cars this year. Since there has been a significant downturn in the demand since October the company feels that a financing arm from the company will help the customers to purchase its vehicles. It financing facilities is already available in nearly 40 countries across the world.