A brand of Daimler Mobility AG, Daimler Truck Financial, announces its “Dynamic Lease” product, the industry’s first pay-as-you-drive leasing financing solution, at the 2019 North American Commercial Vehicle (NACV, www.nacvshow.com) show in Atlanta. The revolutionary telematics-based financing option will be introduced in the U.S. market exclusively for Daimler Trucks North America at the end of the first quarter of 2020.
Franz Reiner, CEO Daimler Mobility AG: “The actual use of mobility services is becoming increasingly important. Telematics-based products such as Dynamic Lease support customers’ desire for more flexibility and transparency. Daimler Mobility offers tailor-made “pay per use” solutions for financing, leasing and insurance.”
With traditional leasing, the customer forecasts the mileage of the truck for the coming years and pays a penalty if it exceeds the mileage, or receives depreciation if it falls below the planned mileage. With Dynamic Lease, customers will have significantly more flexibility, with variable mileage calculated each month via telematics integrated into the vehicle, enabling customers to align lease payments to the actual use of the vehicle.
Mileage above the established baseline will be charged by the mile. Miles below the baseline will be rolled-over for usage in future months.
Tobias Waldeck, Head of Daimler Truck Financial: “Dynamic Lease is the future of truck financing. Thanks to the telematics embedded in the vehicles, we can offer a tailor-made “pay-as-you-drive” leasing solution. Dynamic Lease gives our customers the opportunity to personalize their financing, and thus significantly increase their flexibility in fleet planning and better managing the uncertainties of running a business.”
Daimler Mobility is testing such pay-per-use solutions in pilot projects in selected markets. In the USA, the Freighliner Cascadia is now the first truck to be launched on the market with such telematics technology.
“Dynamic Lease is a unique “pay per use” financial product from Daimler Mobility that is tailored to the needs of our customers,” said Peter Henn, Member of the Board of Management Americas Region, Daimler Mobility AG. “Innovative products such as this demonstrate our leadership in the future of financing mobility.”
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Daimler AG is one of the world’s most successful automotive companies. With its Mercedes-Benz Cars, Daimler Trucks, Mercedes-Benz Vans, Daimler Buses, and Daimler Mobility divisions, the Group is one of the leading global suppliers of premium cars and is the world’s largest manufacturer of commercial vehicles over six tons. Daimler Mobility offers financing, leasing, fleet management, investments, credit card and insurance brokerage as well as innovative mobility services. The company founders,Gottlieb Daimler and Carl Benz, made history by inventing the automobile in 1886. As a pioneer of automotive engineering, Daimler sees shaping the future of mobility in a safe and sustainable way as both a motivation and obligation.
The company’s focus therefore remains on innovative and green technologies as well as on safe and superior vehicles that both captivate and inspire. Daimler continues to invest systematically in the development of efficient powertrains – from high-tech combustion engines and hybrid vehicles to all-electric powertrains with battery or fuel cell – with the goal of making locally emission-free driving possible in the long term. The company’s efforts are also focused on the intelligent connectivity of its vehicles, autonomous driving and new mobility concepts. Daimler regards it as its aspiration and obligation to live up to its responsibility to society and the environment. Daimler sells its vehicles and services in nearly every country of the world and has production facilities in Europe, North and South America, Asia and Africa. In addition to Mercedes-Benz, the world’s most valuable premium automotive brand (source: Interbrand study, 4 Oct. 2018), and Mercedes-AMG, Mercedes-Maybach and Mercedes me, its brand portfolio includes smart, EQ, Freightliner, Western Star, BharatBenz, FUSO, Setra and Thomas Built Buses as well as the brands of Daimler Mobility: Mercedes-Benz Bank, Mercedes-Benz Financial Services and Daimler Truck Financial. The company is listed on the Frankfurt and Stuttgart stock exchanges (ticker symbol DAI). In 2018, the Group had a workforce of around 298,700 and sold 3.4 million vehicles. Group revenues amounted to €167.4 billion and Group EBIT to €11.1 billion.