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DaimlerChrysler Financial Services Emphasizes Commitment to Mexico


January 2007
 Filed under: DAIMLERCHRYSLER CORPORATE Car News | DAIMLERCHRYSLER CORPORATE Headlines

* Jürgen Walker meets Mexican President Felipe Calderón in Berlin

Berlin, Jan 25, 2007 -- In the course of his state visit to Germany, Felipe Calderón, President of Mexico, met today in Berlin with the Chairman of DaimlerChrysler Financial Services AG, Jürgen Walker. Eduardo Sojo, Mexico's Secretary of the Economy, accompanied the President in his talks with leaders in the German business community.

Jürgen Walker underlined the commitment of DaimlerChrysler Financial Services to Mexico’s economy and society. Mexico represents the company's largest market in Central and South America, with a contract volume of approximately $2.7 billion, and 200,000 vehicles financed and leased. Mexico serves as one of the company's top five markets. Since 2003, the DCFS portfolio in Mexico has grown by more than 60 percent, turning the country into one of the strongest growth markets for DCFS.
The Mexican market will continue to play a key role for DaimlerChrysler Financial Services in the future. "We intend to continue our dynamic growth in Mexico and, thereby, systematically enhance our market position," said Jürgen Walker.

By offering a broad range of attractive automotive finance solutions, DaimlerChrysler Financial Services supports the sales of DaimlerChrysler passenger car and commercial vehicle brands in the Mexican market place. The company expects to see further growth opportunities in its financial services business for commercial vehicles. It is currently financing or leasing more than 50 percent of all commercial vehicles sold by its parent company in Mexico. DaimlerChrysler's commercial vehicle manufacturer in North America, Freightliner LLC, announced last December that it would build a manufacturing plant for Freightliner and Sterling trucks in Saltillo, Mexico. The project will have an investment volume equivalent to USD 300 million and will create 1,600 jobs.

In 2006, together with other captive financial services providers in Mexico DaimlerChrysler Financial Services established the “Captive Finance Association of Mexico” and now chairs the trade organization. In the course of his talks with Calderón, Walker stressed the need for further improvement of the regulatory environment governing the operations of financial services providers in Mexico: "Together with our competitors, we will strive to contribute to the creation of a more favorable regulatory environment in connection with the leasing of automotive products in Mexico."

DaimlerChrysler Financial Services lived up to its social responsibility in Mexico through a variety of community outreach initiatives. In 2006, the DaimlerChrysler Foundation invested more than approximately USD 2.6 million in charitable and community-oriented activities in Mexico. In recognition of these efforts the Association of Fundraisers in Mexico recently honored the DaimlerChrysler Foundation as the "Foundation of the Year.” Close to half of the DaimlerChrysler vehicles sold in Mexico are leased or financed by DaimlerChrysler Financial Services. Approximately 300 of the 11,000 men and women employed by DCFS around the world work in the company's five locations in Mexico. The company's Mexican headquarters are located in Santa Fe. According to a recent survey, DaimlerChrysler Financial Services is one of the best 50 employers in the country in 2006.

Source: DaimlerChrysler

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