Daimler financial service unit targets record earnings in 2011
Daimler AG’s financial services unit targets record new business, contract volume and earnings before interest and taxes in 2011, the company said today in a statement.
After 10 months, new business grew 12 percent to 26.7 billion euros and contract volume rose 8 percent to 65.8 billion euros, the Stuttgart, Germany-based company said. The Daimler unit targets growth in emerging markets and targets doubling business volums in Asia by 2016.
Daimler’s financial services aims to increase its share of new business from Brazil, Russia, India and China to 25 percent over the net five years from 10 percent now, the company said.
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