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Daimler has reached a crucial milestone in growth market China: The establishment of Beijing Mercedes-Benz Sales Service Co., Ltd. means that all sales activities for imported and locally produced Mercedes-Benz cars will now be combined under one roof. The new company is a 50:50 joint venture with Daimler’s strategic partner, Beijing Automotive Group (BAIC). “China is a key element of our Mercedes-Benz 2020 growth strategy,” stated Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars. “In order to consistently implement our growth strategy in this important market, we have also added a Board of Management position for China under the leadership of Hubertus Troska. With the establishment of the new sales company, we are now increasing the effectiveness of our sales organization and setting a course for long-term and sustainable growth.”The new sales company, Beijing Mercedes-Benz Sales Service Co., Ltd., combines the functions of sales & marketing, aftersales, expansion of dealer network, used-car and fleet-car sales, as well as dealer and workshop training for Mercedes-Benz cars in China, in a single integrated organization. Previously, there were two sales channels – one for imported and one for locally-produced cars. As an important step towards the integrated organization, Daimler had in the middle of this year already increased its share of the import company Mercedes-Benz (China) Ltd from 51 to 75 percent.
Nicholas Speeks, President and CEO of Mercedes-Benz (China) Ltd, will become the CEO of the new sales company.
“China Sales Initiative 2015” – continuous expansion of product portfolio and sales centers
Daimler plans to sell 300,000 cars in China in 2015, about two thirds of which will be from local production. Daimler has already initiated key activities this year for long-term and sustainable growth in China within the framework of the “China Sales Initiative 2015” program:
- Equity interest in Mercedes-Benz (China) Ltd. increased from 51 to 75 percent.
- Market launch of new models, including the B-Class and M-Class, which are popular in China, as well as full availability of the locally produced GLK
- Expansion of dealer network to more than 220 dealerships in approximately 100 cities
- Development of “Sales Region West” with its headquarters in Chengdu, Sichuan, in order to better serve the complex Chinese market. Regional development is now complete along with the existing offices in Beijing, Shanghai and Guangzhou
- Addition of leasing to existing financial services in August 2012
In the medium term, the product portfolio of Mercedes-Benz will be continuously expanded: Approximately 20 new and refreshed models will be launched in China alone by 2015.
The dealer network is to grow by about 50 new dealerships each year – in particular outside the major megacities.
In addition, progress is being made with the expansion of local production: In a new engine plant, 4-cylinder gasoline engines will be produced as of 2013 for use in locally-produced Mercedes-Benz cars and vans. Existing capacities for the C-Class, the GLK, and the long-wheelbase E-Class will be increased in line with market demand from currently just over 100,000 vehicles, with 2014 seeing the addition of the new-generation Mercedes-Benz compact cars. In this context, the steady expansion of the Chinese supplier base will leverage cost-cutting potential.
Chinese customers are also playing an increasingly important role for Daimler and Mercedes-Benz with regard to research and development: Chinese groups are already participating in car clinics which allow customer feedback to flow into the product-creation process. In 2011, Mercedes-Benz was the first western premium manufacturer to set up its own design studio in Beijing in order to be even closer to the mobility trends of the future. Furthermore, Daimler’s local R&D activities and joint ventures will help China-specific product and market requirements to receive even more consideration in the product-development process.
Daimler’s new Board of Management position for China
China is highly important to Daimler not only for car sales, but also at the corporate level: China is now the world’s biggest market for motor vehicles. No other western automotive manufacturer is as well established in China as Daimler. On December 12, the Supervisory Board of Daimler AG appointed Hubertus Troska as a member of the Board of Management for the newly created “China” position. Troska is responsible for all of Daimler’s strategic and operating activities in China. With the new “China” Board of Management position, the company will ensure that all aspects of the dynamic market will be dealt with directly in the Board of Management in the future.
Overview: Daimler in China
Daimler Northeast Asia is based in Beijing and includes Mercedes-Benz (China) Ltd, Mercedes-Benz Auto Finance Ltd, Daimler Northeast Asia Parts Trading & Services Co., Ltd., the joint ventures Beijing Benz Automotive Co., Ltd. (BBAC), Beijing Foton Daimler Automotive Co., Ltd. (BFDA), Fujian Benz Automotive Corporation (FBAC) and Shenzhen BYD Daimler New Technology Co. Ltd., as well as sales companies in Hong Kong, South Korea and Taiwan.
Local production of Mercedes-Benz cars began with the predecessor series of the E-Class in the BBAC 50/50 joint venture in 2006; the second C-Class series followed in 2008. BBAC has been producing the current E-Class in a long-wheelbase version tailored specifically for the demands of the Chinese market since May 2010; the first locally produced GLK rolled off the production line in Beijing in December 2011.
On the sales side, Mercedes-Benz Cars is represented in China with its complete product portfolio; almost 200,000 vehicles were sold in the year 2011. Approximately 50 new dealers will be added to the sales network this year, making the brand increasingly present outside the Tier 1 cities.
China is already the fifth-largest sales market for Mercedes-Benz trucks. With a market share of more than 50% in the premium segment, Mercedes-Benz Trucks lead the market above all in the heavy-duty segment. In addition, Daimler is developing the volume segment of the world’s biggest market for commercial vehicles in a joint venture with Foton Motor, a Chinese truck manufacturer. Since mid-2012, the jointly produced medium and heavy trucks of the Auman brand have also been rolling off the production line in Beijing-Huairou.
In addition, Daimler has been producing Mercedes-Benz vans for the Chinese market in the Fujian Benz Automotive Corporation joint venture since April 2010.
Daimler Financial Services
has been providing automotive financing in China through Mercedes-Benz Auto Finance China since 2009. And together with BYD, Daimler has initiated the joint venture Shenzhen BYD Daimler New Technology Co. Ltd to develop an electric vehicle for the Chinese market. This joint venture was officially approved in March 2011.Credits: Daimler AGCopyright © 2012, mercedesgla. All rights reserved.
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Daimler Financial Services once again expects to achieve
record business results in 2012. In the first ten months of the year,
Daimler’s financial services subsidiary posted all-time highs for new
business and contract volume, and its operating profit (EBIT) rose
above €1 billion for the first time in the first three quarters. EBIT
therefore surpassed even last year’s all-time high, and the company
expects it to rise to around €1.3 billion for the year as a whole. “We
are on course to set a new record, and we want to achieve strong
growth even when the overall economy is weak,” said Board of
Management Chairman Klaus Entenmann in Stuttgart on Monday.On average, Daimler Financial Services finances or leases four out of
ten Daimler vehicles worldwide. During the first ten months of the
year, the company’s new business (i.e. the value of all of the leasing
and financing contracts concluded in 2012 to date) rose to the
record value of €30.9 billion (+15 percent). Contract volume, which
is the value of all of the leasing and financing contracts managed by
the company, also set a new record, amounting to €77.5 billion (+18
percent) during the same period. In addition, Daimler Financial
Services brokered more insurance policies than ever before. In fact,
the number of new contracts increased by 14 percent to more than
860,000. Thanks to close collaboration with major insurance
partners, Mercedes customers can benefit from customized
insurance solutions which ensure that damaged automobiles are
repaired in authorized workshops by experts using genuine spare
parts.
As part of its DFS 2020 strategy, Daimler Financial Services plans to
continue to grow profitably in the coming years. „Until the end of the
decade, we want to nearly double our worldwide contract volume
compared to 2011“, said Entenmann. Important growth drivers
include the expansion of the company’s business in Asia, the
Daimler Group’s product offensives and the increase in the range of
innovative mobility services. The company expects to post especially
strong growth in the Asia-Pacific region, where its new business rose
by 23 percent to €4.4 billion in the first ten months of 2012,
compared to the same period last year. In August, the company
became the first premium automobile manufacturer to offer leasing
products in China. In addition, the company successfully launched
its financing business in India for Daimler’s new locally produced
truck brand, BharatBenz. In November 2012, the company also
kicked off its financing business in Malaysia, which is an important
southeast Asian market with more than 28 million inhabitants.
Daimler Financial Services is also set to grow in Europe and the
Americas. In both regions, the company concluded substantially
more new leasing and financing contracts through October than in
past years. New business amounted to €14.9 billion (+ 13 percent)
in Europe and to €11.6 billion (+17 percent) in the Americas. “We
want to grow in our traditional core markets in the wake of Daimler’s
current product offensives,” said Entenmann. With its new compact
models, Daimler particularly wants to reach young customers, who are
especially open to financing and leasing offers. For the new
Mercedes-Benz A-Class, for example, the company is offering target
group-appropriate all-in-one packages that include financing,
insurance and service.
Daimler Financial Services sees additional growth opportunities in
the area of innovative mobility services. Its subsidiary car2go GmbH
is now represented in 15 cities in Europe and North America. In
addition, it has a total of over 220,000 customers, which is almost
four times more than at the beginning of 2012. “We want to enable
even more people to use car2go, which is why we plan to be
represented in more than 50 cities by the middle of the decade,”
said Entenmann. A car2go vehicle is rented about every four-and-a-half
seconds on average in the cities in which the service is
provided. Over the long term, Daimler Financial Services also plans
to offer additional innovative mobility services. “We want to expand
from a automotive financial services company to a provider of
mobility services,” said Entenmann. “Ultimately, our imagination is
not limited to car2go.”Credits: Daimler AGCopyright © 2012, mercedesgla. All rights reserved.
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Daimler Financial Services AG has named Zurich Insurance Group the “2011 Insurer of the Year” in the automotive segment. This is the second time Daimler Financial Services has presented the award. The company selected Zurich Insurance Group to receive the award because of its outstanding solutions for the auto insurance sector. “Our award is designed to promote competition among our strategic partners in the insurance industry and to honor excellent performance,” said Hanns Martin Schindewolf, CEO and Chairman of Daimler Insurance Services GmbH, during the award ceremony in Zurich on Friday. “Zurich Insurance Group proved to be a truly outstanding partner last year.” The premium volume of automobile-related insurance policies managed by Zurich and sold by Daimler rose by 58 percent to €90 million in 2011. Zurich also distinguished itself through a high level of reliability, an extensive focus on service, and exceptional innovative capability. Automobile-related insurance remains a strategic growth sector for Daimler Financial Services. “Every driver needs insurance - and we want to make automotive insurance with the star a standard feature of Daimler vehicles,” said Schindewolf.
Auto insurance policies brokered by Daimler offer numerous advantages to customers, who can conveniently sign up for the policies they need right at the dealership. Customers also benefit from the exclusive terms that can only be obtained through cooperation between vehicle manufacturers and insurance companies. Daimler’s partnership with Zurich makes it possible to offer more favorable premiums to customers who opt for vehicles with extensive safety systems. Customers can also enjoy the feeling of security that comes with knowing that if their vehicle is damaged, it will be repaired at an authorized Mercedes-Benz service center that uses only genuine parts. Among other things, this ensures that the car will retain a higher value. In addition, customers are usually issued a Mercedes-Benz replacement vehicle while their car is being repaired. Zurich and Daimler are constantly working together to further improve the brand experience.
Cooperation with Daimler benefits the insurance sector as well. “Zurich’s partnership with Daimler allows us to approach customers right at the dealership and explain to them the various advantages and details of our policies,” said Thomas Hürlimann, CEO Global Corporate at Zurich Insurance Group, during the award ceremony. “We can also develop special offers with Daimler that would not be possible without close cooperation with an automaker. We’re very pleased to be honored with this award - but we also view it as an incentive to continue growing with Daimler in the sector for automobile-related insurance, and to jointly develop new innovative products and services.”
Daimler Financial Services currently cooperates with about a dozen strategic partners in the area of auto insurance. The company is already working with Zurich in 14 countries. Daimler Financial Services sold more than 500,000 automobile-related insurance policies in the first half of 2012, which marked an all-time high for the company.Credits: Daimler AGCopyright © 2012, mercedesgla. All rights reserved.
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