Chrysler Financial, a business unit of DaimlerChrysler Services North America, celebrated its 40th anniversary on July 21. DaimlerChrysler Services says it will continue to develop finance and insurance solutions that drive dealer performance. With a portfolio of more than $50 billion, Chrysler Financial provides wholesale vehicle financing and lines of credit to more than 4,000 dealers in the United States.
Beginnings in 1964 produced a portfolio of $25 million followed by seven years of rapid growth. The first President of Chrysler Credit Corporation, Gordon Areen said, "Our principal motive was to provide services to our dealers." That has not changed, in 2004 the company is one of the leading financial services providers worldwide with a portfolio of $85 billion in North America.
Combining the strength of its business units, Chrysler Financial, Mercedes-Benz Credit and DaimlerChrysler Services Truck Finance, and with more than 5,500 professionals, DaimlerChrysler Services has the people, programs and experience to deliver products and services to meet customer expectations.
"Today the integrity and service-driven attitude of our employees make up our rich heritage and continues to allow us to respond to our customers' needs and meet the challenges of an ever-changing automotive finance market. Together with the Chrysler Group colleagues we are focused on continuing to deliver the highest levels of service to our customers," said Entenmann.
1964: Chrysler Credit Corporation and Car City Insurance are founded.
1966: Chrysler Credit Canada Ltd. is founded.
1967: Chrysler Credit is renamed Chrysler Financial Corporation.
1972: Car City Insurance is renamed Chrysler Insurance.
1974: Chrysler Financial began operations in Mexico.
1998: Chrysler and Daimler-Benz merge to form DaimlerChrysler Corporation.
1999: Chrysler Financial Corporation and Mercedes-Benz Credit Corporation merge operations to be renamed DaimlerChrysler Services.
2001: Chrysler Insurance is renamed DaimlerChrysler Insurance Company.
2004: Chrysler Financial celebrates 40 Years of Finance.