KUALA LUMPUR: Mercedes-Benz Services Malaysia Sdn Bhd, the financing arm of Mercedes-Benz, will continue to provide financing for Mercedes-Benz and Fuso commercial vehicles, despite the German car manufacturer exiting its commercial vehicle distribution business in Malaysia.

Managing Director Mike J Ponnaz said commercial vehicles contributed about 15% to Mercedes-Benz Services financing portfolio and the company would continue to provide financing services, as long as it can contribute to the growth of sales of Mercedes-Benz.

“Mercedez-Benz and Fuso are still our brands.We will still be here to support our brand,” he told Bernama at the company’s fifth anniversary celebration here yesterday.
Ponnaz said as of March this year, the company’s financing portfolio stood at RM2.4bil, exceeding last year’s full year total of RM2.2bil.

He said the exponential growth was attributable to higher vehicle sales by Mercedes-Benz Malaysia and more customers using the financing platform provided by Mercedes-Benz Services Malaysia.

“We financed four out of ten vehicles sold by Mercedes-Benz Malaysia,” he added.

Last week, Mercedes-Benz Malaysia reached an agreement to sell its commercial vehicle business in Malaysia to Hap Seng Consolidated Bhd for an undisclosed sum.

Under the business transfer agreement, Hap Seng takes over the businesses of selling and after-sales service of Mercedes-Benz-branded buses and Fuso-branded trucks, vans and related OEM spare parts in Malaysia.

It will also run the operations of Mercedes-Benz Malaysia’s commercial vehicle training centre. - Bernama