Mercedes-Daimler has expanded its financial services offering in Austria, while Ford Motor Credit has launched a retail financial service in India, as motor finance continues to grow internationally.
In Austria, Daimler Financial Services acquired Welcome financial services group, and rebranded it Mercedes-Benz Bank.
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Welcome group had a contract volume of approximately 100m (£71.4m).
Through the new bank, Daimler dealers throughout Austria will be able to offer their customers a broader range of financial services and also finance their own inventory through the new bank, from the first quarter 2016.
Franz Reiner, the Daimler Financial Services AG Board of Management member responsible for the Europe region, said: "We are investing in Austria because it is an important growth market for us. We want to double our portfolio in Austria to approximately 1 billion by 2020.
"The new Mercedes-Benz Bank will play a major role in this regard, because from now on we can also offer auto financing in this country."
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By GlobalDataFord India
Reports coming from India are saying that Ford Motor Credit has launched a retail financing service in India.
According to Overdrive.in, the first phase of the launch will be in 17 cities, with plans to expand in future phases.
Mark Constable, managing director of Ford Credit India, was quoted as saying: "There are new financing channels for customers purchasing a Ford vehicle.
"Customers have the convenience of financing facilitated by the dealer, along with the expert service of a company that specializes in Ford financing and builds customer relationships. Our goal is to contribute to the great experience consumers have with Ford vehicles."
