smart USA Launches First National Leasing Initiative Through Daimler Financial Services

BLOOMFIELD HILLS, Mich., Jan. 15 /PRNewswire-FirstCall/ -- smart USA Distributor LLC, a wholly-owned subsidiary of Penske Automotive Group, Inc. (NYSE: PAG), announces today the launch of its first national lease program through Daimler Financial Services (DCFS USA LLC).

"Our new lease program allows customers added flexibility with financing options and allows smart customers to enjoy leasing benefits such as low monthly payments, driving a new vehicle every two-to-three years and ease of vehicle turn-ins," said Jill Lajdziak, President, smart USA. "Given our strong residual value performance we are in position to offer the consumer this financing alternative.  This option allows consumers to have all the benefits of the smart product and excellent cost of ownership."

The new lease program is available for all new smart models and will be offered in increments of 24, 36 and 48 months.

To support the launch of this new program, smart USA and Daimler Financial Services are combining on a special offer for qualified customers to get into a new 2009 smart fortwo pure coupe for $169* a month on a 36-month, 10,000 miles-per-year lease.  

"As the dedicated financial services partner we are offering a full menu of financial products designed specifically for the needs of smart drivers and the smart dealer network," said Andreas Hinrichs, Vice President of Marketing, Daimler Financial Services. "By launching this competitive leasing program, we are able to expand our current retail financing options and provide customers with another avenue to get into this exciting vehicle."

Since its introduction, nearly 40,000 smart fortwos have been sold.  The smart fortwo offers the right balance of power, outstanding fuel efficiency, innovative safe features, environmental friendliness and excellent value.  There are 77 smart centers located in 36 states.

*Other rates/terms/tiers are available under this offer. Monthly payment is calculated using a base MSRP of $13,335 and does not include tax, license, title, registration, documentation fees, additional options, insurance or other dealer fees. Qualified customers must provide $999 down payment, $595 acquisition fee and first month's payment at time of delivery. No security deposit required.  Subject to credit approval; not all customers will qualify.  Offer valid on all new 2009 models.

ABOUT the smart fortwo and smart USA

smart USA Distributor LLC, headquartered in Bloomfield Hills, Michigan, is the exclusive distributor of the smart fortwo in the United States and Puerto Rico and is a wholly owned subsidiary of Penske Automotive Group, Inc.  The smart fortwo is a brand of and is manufactured by Daimler AG.  This technologically advanced vehicle achieves 41 mpg on the highway and is an ultra-low emissions vehicle, as certified by the State of California Air Resources Board.  The vehicle is 8.8 feet long, 5.1 feet tall and 5.1 feet wide and comes equipped with many functional and safety features found in most luxury models.  smart is currently sold in 40 other countries, and more than one million smart fortwos have been sold since 1998.  The 2009 smart fortwo is available in five trim levels ranging in price from $11,990* to $20,990*.  

ABOUT PENSKE AUTOMOTIVE GROUP

Penske Automotive Group, Inc., (www.penskeautomotive.com) headquartered in Bloomfield Hills, Michigan, operates 310 retail automotive franchises, representing 40 different brands and 25 collision repair centers. Penske Automotive, which sells new and previously owned vehicles, finance and insurance products and replacement parts, and offers maintenance and repair services on all brands it represents, has 160 franchises in 17 states and Puerto Rico and 150 franchises located outside the United States, primarily in the United Kingdom.

Penske Automotive, through its wholly-owned subsidiary smart USA Distributor LLC (www.smartusa.com), is the exclusive distributor of the smart fortwo vehicle and related parts in the United States. smart USA supports 79 smart retail centers in the United States. Penske Automotive is a member of the Fortune 500 and Russell 1000 and has approximately 14,000 employees. smart and fortwo are registered trademarks of Daimler AG.

ABOUT DAIMLER FINANCIAL SERVICES (DCFS USA LLC)

Daimler Financial Services (DCFS USA LLC), headquartered in Farmington Hills, Mich., provides brand-specific financial services products for smart USA dealers and their customers. Daimler Financial Services also provides brand specific financial services for Mercedes-Benz automotive dealers' inventories and their retail customers, and conducts business in the United States luxury car market as Mercedes-Benz Financial. In the U.S. trucking industry, Daimler Financial Services Americas conducts business as Daimler Truck Financial and finances Daimler Trucks North America commercial vehicles branded Freightliner and Western Star for dealers and their customers in the fleet, vocational, municipal and owner/operator segments. Daimler Financial Services (DCFS USA LLC) serves as the headquarters for operations in the United States, Canada, Mexico, Argentina and Brazil, and has approximately 1,600 employees. It is a company of the Daimler Financial Services Group, headquartered in Berlin, Germany, which operates in 40 countries with an employee base of close to 6,800. Daimler Financial Services is one of the leading financial services organizations worldwide.

For more information visit www.daimler-financialservices.com/na  

For additional information, visit www.smartusa.com

SOURCE Daimler Financial Services