Daimler Financial Services has seen its portfolio exceed €125bn (£105.2bn) as it boosted the number of vehicles under contract to more than 4 million.

In a 9% year-on-year increase, 1.5m of the vehicles were new contracts, made in the first 11 months of 2016.

Klaus Entenmann, chairman of the board of management of Daimler Financial Services AG stated that the group expected record full-year results.

Entenmann said: “We already provide financing or leasing arrangements for one in two new vehicles from Daimler. For the full year 2016 we are expecting to achieve record figures for new business, contract volume, and overall revenue.”

Entenmann also emphasised that Daimler would “continue to invest in digital and networked mobility solutions”, mentioning their investment in Berlin-based start-up Blacklane.

The company also touted its investments in apps such as Daimler-created taxi app ‘mytaxi’ which was merged with a similar, British app ‘Hailo’ in July as part of its digital strategy.

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Following the €1.1bn acquisition of Athlon early in December, Daimler stated that it would integrate its 350,000-vehicle strong fleet business under the brand.