The paperwork for the Daimler truck and car divorce is proceeding today with Daimler Truck Aus creating a new financial branch only for heavy vehicles

Craig Cubitt, newly crowned chief financial officer, and Daniel Whitehead, president and chief executive officer

Daimler Truck and Bus Australia Pacific has completed its separation from the local Mercedes-Benz passenger car division, with Daimler Truck now becoming an independent global manufacturer of commercial vehicles, which the new company says will allow more focus. on commercial vehicle customers.

The company says these global changes will allow Daimler Trucks to continue supplying cutting-edge Mercedes-Benz, Freightliner and Fuso trucks and buses in the future as it moves towards zero emissions.

Daimler Truck and Bus Australia Pacific has increased its workforce by taking over previously shared internal services, but the big news for customers is the creation of a new finance company dedicated to trucks and buses; Daimler Truck Financial Services.

Previously, Daimler’s commercial vehicle finance offerings were provided by Mercedes-Benz Financial Services, the same finance company that provides finance to Mercedes-Benz passenger vehicle customers.

From now on, Daimler Truck’s financial services will be fully dedicated to HGV and bus customers, through the well-established Daimler Truck and Bus dealer network.

Craig Cubitt, senior CFO of Commercial Vehicles, has been appointed Managing Director of the new organization which will be based at Daimler Truck and Bus headquarters in Mulgrave, Victoria.

Daimler Truck and Bus Australia Pacific President and CEO Daniel Whitehead says Daimler Truck independence is a big plus.

“We are delighted that Daimler Truck is now an autonomous global entity, because we know that this independence will make us more agile and allow us to continue to make the investments necessary to develop the best trucks, buses and associated services of the future,” said Whitehead.

“The creation of a financial services company dedicated to Daimler Truck and Bus customers is also a welcome development.

“Managing a fleet of trucks or buses is very different from operating a passenger vehicle and the financial needs they need for their business are also unique. We are delighted that Craig and his entire team can now focus solely on our truck and bus. customers and provide them with the best and most innovative commercial vehicle financial products and services, ”says Whitehead.

Craig Cubitt says the Daimler Truck Financial Services team, which has extensive industry experience in Australia, is uniquely positioned to provide the best products and services to Daimler Truck and Bus customers.

“We aim to be a truly customer-centric organization that puts our truck and bus customers at the center of everything we do,” Cubitt said.

“Our new structure as a stand-alone finance company means we can better serve our customers and truck dealers than ever before. “

Daimler Truck Financial Services offers a wide range of financial solutions, including business asset loans, hire-purchase and rental products, as well as unique innovative solutions that are not available anywhere else in the industry.

Daimler Truck Financial Services will offer two unique and exclusive products: Fast Track Financing, which offers a streamlined and fast approval process, and the very popular Daimler Guaranteed Buyback Program, which provides customers with guaranteed future value on their Daimler truck. from the start of their contract.

Daimler’s guaranteed buyback is different from traditional loans, as it also offers several options at the end of the contract, including the ability to return the truck or, alternatively, the customer can choose to keep the truck or exchange it for a new one. Whichever option they choose, the customer has confidence in the knowledge that the value of the truck will match the outstanding balance and avoid any negative equity.

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