Mitsubishi Fuso Truck & Bus Corporation, Daimlerchrysler Launch New Product in Japan
One of Asia’s leading commercial vehicle manufacturers and producer of Mitsubishi truck parts, the Mitsubishi Fuso Truck & Bus Corporation together with the world’s largest financer of commercial vehicles, DaimlerChrysler Financial Services has announced recently the successful conclusion of the first business year of the FUSO financial which is the financial arm of Fuso commercial vehicles in Japan.
After a year of financial services in Japan Fuso dealers were able to come up with a contract volume of new business amounting to 100 million Euros. The Fuso network in Japan is comprised of 262 sales outlets which were completed last September 2006. The expected midterm portfolio for the Fuso Financial is one billion Euro.
According to Masayuki Nagano, Member of the Board of Management and Corporate General Manager of Sales and Service Domestic at Mitsubishi Fuso Truck & Bus Corporation, at a press conference in Tokyo, “FUSO Financial is now an integral part of the Fuso operations in Japan. With joint product development, joint marketing activities and an integrated customer relationship management we take a big step forward in becoming ‘the most reliable company’ for our customers and business partners – not only in terms of quality, but also in financial services.”
The establishment of the FUSO Financial business unit has enabled the DaimlerChrysler Financial Services to offers the full product portfolio that includes financing, leasing, and insurance services for all DaimlerChrysler brands in Japan. Obtaining a portfolio of 1.8 billion Euros and 90,000 vehicles last 2006 in Japan make it as one of the top 10 markets of DaimlerChrysler Financial Services worldwide and the largest market in the Asia/Pacific region.
Jürgen Walker, Chairman of the Board of Management of DaimlerChrysler Financial Services said, “As the world’s largest truck financer we can bring our global expertise to the Japanese commercial vehicle market to add value for our Fuso dealers and customers. Today, 35 percent of all Fuso vehicles are financed or leased via different financial services companies. Compared to other markets – where DaimlerChrysler Financial Services alone has penetration rates of 50 percent – we see great market potential in Japan.”
Mitsubishi Fuso and DaimlerChrysler Financial Services have also announced the beginning of a new full service leasing product which they call as “FUSO Maintenance Lease” for all Fuso customers in Japan. This new product will integrate vehicle leasing and maintenance services into a fixed monthly rate. The “FUSO Maintenance Lease” is the answer to the “one-stop-shopping-solution” that customers are asking for.
The “FUSO Maintenance Lease” enables the Fuso Financial to offer a competitive product bundle that is designed to meet the needs of customers. The maintenance lease was based on the experiences of DaimlerChrysler Financial Services with full service products from other markets like Europe and North America.
Tilo Schmid-Sehl, President and Representative Director of DaimlerChrysler Financial Services Japan Co., Ltd. said, “After 15 years of successful business in Japan with DaimlerChrysler passenger vehicles we have all the necessary market know-how to become a leading commercial vehicle financer here, too. With our extended financial services portfolio for Fuso customers and dealers, FUSO Financial will strongly support the sales of Fuso trucks and buses in Japan.”
About Mitsubishi Fuso Truck & Bus Corporation
Mitsubishi Fuso Truck & Bus Corporation (MFTBC) is based in Kawasaki, Japan,. It is one of Asia’s leading commercial vehicle manufacturers. Last 2006, the company sold a total of 186,600 vehicles comprising of light-, medium- and heavy-duty trucks and buses. DaimlerChrysler AG owns 85% of MFTBC shares while the remaining 15% of shares are held by various Mitsubishi group companies. MFTBC is an integral part of DaimlerChrysler’s Truck Group.
Gertrude Sayzer finished her degree in Marketing at Western New England College. She is passionate about writing and loves to travel as well. At present, this 32 year-old mother of three works full-time at an Ad agency in Boston.