DaimlerChrysler's Financial Arm

The newly created DaimlerChrysler Financial Services is expected to strengthen DaimlerChrysler AG’s position in the global truck market, the new company’s chairman said Jan. 20.

Klaus Mangold said during a news conference that the service will be the fourth largest non-banking financial company in the world, with a portfolio of $81 billion. He also said the company will move aggressively into markets beyond the limits of automotive financing.

DaimlerChrysler is the parent company of Mercedes, which is a leader in European truck sales, as well as Freightiner, one of the major truck manufacturers in the United States.