The newly-created truck and bus business, Daimler Truck Financial Services, serves the function previously carried out by Mercedes-Benz Financial Services (MBFS).

Mr Cubitt, an experienced commercial vehicle finance executive, will be based at Daimler Truck and Bus headquarters in Mulgrave, Victoria.

He was previously managing director of MBFS New Zealand and, before that, in the same position in Hong Kong. He joined MBFS in 2005 from General Motors Acceptance Corporation (GMAC).

Daimler Truck and Bus Australia Pacific president and CEO, Daniel Whitehead, said the independence of Daimler Truck was a big plus.

“We are excited that Daimler Truck is now a standalone global entity because we know that independence will make us more nimble and enable us to continue making the investments needed to develop the best trucks, buses and associated services of the future,” he said.

The creation of a dedicated financial services company for Daimler Truck and Bus customers is also a welcome development, says Mr Whitehead.

“Running a fleet of trucks or buses is very different to operating a passenger vehicle and the finance requirements they need for their business are also unique,” Mr Whitehead said.

“We are excited that Craig and his entire team will now be able to focus solely on our truck and bus customers and provide them with the best and most innovative commercial vehicle financial products and services.”

Mr Cubitt said the Daimler Truck Financial Services team, which has extensive industry experience in Australia, is perfectly positioned to deliver the best products and services to Daimler Truck and Bus customers.

“We aim to be a truly customer-focused organisation that puts our truck and bus customers at the centre of everything we do,” he said.

Daimler Truck and Bus is now a separate business and independent vehicle manufacturer following the split of the global truck and bus assets of Daimler from the Mercedes-Benz passenger car division.

The global changes are said to enable the Daimler Truck business to continue delivering Mercedes-Benz, Freightliner and Fuso trucks and buses into the future as it moves towards zero emissions.

Daimler Truck and Bus Australia Pacific has grown its workforce as it takes on previously shared internal services but significant for customers is the creation of the new dedicated truck and bus finance company, Daimler Truck Financial Services.

Previously, Daimler’s commercial vehicle finance offerings were provided by MBFS, the same finance company that delivers finance for Mercedes-Benz passenger vehicle customers.

By Neil Dowling