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Daimler opens new financial hub in N.C.
Charlotte-area office consolidates lender’s footprint
Moving the DTFS employees to North Carolina is part of a wider move by Daimler Truck to shrink the truck maker’s geographical footprint. (Daimler Truck North America)
Key Takeaways:
- Daimler Truck Financial Services USA opened its Ballantyne, N.C., headquarters Sept. 29, consolidating Detroit- and Fort Worth-area operations at one site.
- The $7.8 million facility will house 350 employees, while North America represents about 60% of DTFS’ global asset portfolio.
- DTFS is considering expanded leasing and rental options as demand improves, while Daimler Truck expects Class 8 momentum through 2027.
Daimler Truck Financial Services USA cut the ribbon on its new headquarters Sept. 29, officially opening the Ballantyne, N.C., facility after merging all its existing operations.
A total of 350 staff will be based at the site. Offices in the Detroit and Fort Worth, Texas, metropolitan areas were closed as operations were consolidated in the Charlotte-area suburb.
Moving the DTFS employees to North Carolina is part of a wider move by Daimler Truck to shrink the truck maker’s geographical footprint, including through closing the Swan Island plant in Portland, Ore., at the end of October.
Plans for what will be the largest manufacturing plant for Freightliner and Western Star trucks in North America are also expected to exemplify this strategic focus.
The Daimler Truck unit spent about $7.8 million on the Ballantyne facility.
“Today marks an exciting new chapter for Daimler Truck Financial Services in North America,” Kevin Bangston, president and CEO of Daimler Truck Financial Services USA, said in a statement announcing the official opening.
DTFS’ largest market is North America, which accounts for some 60% of its asset portfolio. The division has around $35 billion in assets globally.
The unit was founded in 2021, when Daimler Truck went public in a spinoff from Daimler AG. It currently operates in 21 countries.
“This headquarters supports our ability to serve customers and dealers more effectively while strengthening collaboration across our North American organization. It reflects our confidence in the region’s future and our continued investment in helping customers keep the world moving,” Stephan Unger, DTFS’ top executive globally, said in comments accompanying the announcement.
Daimler Truck remains so confident of continued Class 8 demand growth in North America that the truck maker intends to expand its leasing and rental options for customers through DTFS, Unger told reporters on the sidelines of the recent IAA Transportation conference.
In its largest market, DTFS is looking to expand beyond traditional financing, particularly as the freight market upswing continues, Unger said.
“We are looking into [leasing] expansion. But as we say, speed of right, or step by step. We cannot do everything at the same time,” he said in Hannover, adding that customers also are showing greater demand for North American rental options. Unger could not provide further details.
Pent-up demand is being released. Preliminary Class 8 truck net orders rose 42% year over year to 18,200 units in August, according to FTR Transportation Intelligence. In June, orders jumped 241%, the largest year-over-year increase during an eight-month streak of gains.
Daimler Truck CEO Karin Radstrom told reporters separately in Hannover that Freightliner and Western Star won 45% of Class 8 orders in July and 47%-48% in August.
Radstrom expects positive third and fourth quarters for Daimler Truck North America’s two Class 8 brands to continue into 2027.
