Daimler Truck Financial Captures Top Honor from ATD
FARMINGTON HILLS, Mich. — Despite an extremely tough environment, Daimler Truck Financial boasted today that it has achieved the No. 1 ranking in the annual dealer satisfaction survey conducted by the American Truck Dealers, a division of the National Automobile Dealers Association.
Daimler Truck Financial recaptured the top spot from PACCAR Finance, which supports dealers selling Kenworth and Peterbilt brands, officials highlighted. Daimler Truck Financial is the captive finance company supporting Daimler Trucks North America dealers selling Freightliner and Western Star brands,
Daimler Truck Financial and PACCAR Finance have apparently been battling it out for the top spot for the past six ATD surveys with Daimler taking the No. 1 ranking in 2004, '05, '07 and '09, while PACCAR won in 2006 and '08, officials indicated.
Daimler Truck Financial delivered the largest year-over-year increase with a 15-percent improvement on last year's score and recorded the highest score since ATD started measuring captives in 2004, according to the company.
"Our dealers recognized the substantial efforts that our employees are making each and every day to support our dealers' business," said Richard Howard, head of Daimler Truck Financial. "Our score and ranking is especially significant given the environment we are operating in today and the considerable changes our employees had to go through the last two years."
The annual ATD survey is mailed to medium and heavy-duty new truck dealers in the United States. Dealers evaluate their OEM in the following categories: Value, Marketing, Policy Parts, People and Finance.
In the Finance category, dealers rank their satisfaction with their captive finance partner in six areas:
—Range of products available to dealers.
—Range of products available to customers.
—Competitive programs relative to rates and terms for new and used vehicles.
—Timeliness of response from the captive.
—Quality of sales and marketing staff assistance when needed.
—Availability of capital at competitive rates to the dealer-owned leasing company.
"We will continue to be proactive with our dealers in working closely with them and listening carefully to their concerns to ensure that we are constantly developing new initiatives and trying to enhance current offerings," Howard said.
Brad Fauvre, chief executive officer of Velocity Vehicle Group of Los Angeles with Freightliner dealerships in LA, San Diego and Las Vegas, said Daimler Truck Financial's top ranking in the ATD survey is a result of being a strong finance partner with the Freightliner dealer body.
"They are making sure everyone is successful for the long haul," he said. "They have demonstrated their responsiveness to the dealer body by fixing systems, re-designing processes for quick credit decisions and by improving their flexibility during the downturn."
Fauvre is chairman of the Daimler Truck North America dealer council and said the captive is quick to take action on concerns and suggestions of the dealer council's finance subcommittee.
"They are a consistent provider of market-appropriate programs like leasing rates for vocational customers," he said. "Unlike the banks that get in and out of the market, Daimler Truck Financial only does truck financing and they are always focused on the end-user and that makes them a very consistent partner."
Other OEM captive finance firms rated by dealers in the ATD survey are: Mack Commercial, Volvo Financial, Ford Motor Credit, International Finance and GMAC.