DAF truck manufacturer opens bank in Brazil

The truck manufacturer of Dutch Origin DAF is bringing its bank in Brazil, with plans to finance the purchase of up to one-third of the brand's vehicles already next year. The bank will have the same name as the holding owner of DAF, Paccar. According to João Petry, Director-General of Paccar Financial in Brazil, the movement will allow DAF to equalize its position to the main rivals, which include Volkswagen trucks and Mercedes-Benz, which already have financing units in the country. "With the gradual resumption of truck demand in Brazil, we will be better positioned to act in a larger part of the industry chain," Petry said. With an initial capital of R $100 million, Paccar Financial must start its first operations already this week. At least until next year, the group should only use own resources in the supply of financing and is ready to make new contributions. Headquartered in Ponta Grossa (PR), DAF started the production and sale of local in the country in 2013, with heavy trucks and financing made via commercial banks. Last year, sold 2300 trucks in Brazil and its expectation is to reach 5000 trucks this year. According to the Automaer, the arrival of Paccar Financial will allow the group to take advantage of a recent resumption of the sector. At the beginning of the month, Fenabrave, the concessionaires ' Association, reported that the licensing of trucks totaled 9,197 vehicles in May, up from almost 61% in the annual comparison. The group already evaluates to bring to Brazil in the coming years its arm of light trucks.