BLOOMFIELD HILLS, Mich., Jan 15, 2010 (BUSINESS WIRE) -- smart USA Distributor LLC, a wholly-owned subsidiary of Penske Automotive Group, Inc. (NYSE:PAG), announces today the launch of its first national lease incentive through Daimler Financial Services (DCFS USA LLC). The strength of the brand in the United States allows smart USA to offer customers additional financing offers.
"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 hassle-free vehicle turn-ins," said Jill Lajdziak, President, smart USA. "We have continued confidence in the brand based on the volume of vehicles sold since the smart fortwo went on sale and two years of residual value data to offer a lease option."
Under the terms of the new leasing program, well-qualified smart fortwo customers may lease a smart fortwo pure coupe for $169* a month on a 36-month, 10,000 miles-per-year lease. Qualified customers must provide $999 down, $595 acquisition fee and first month's payment at the time of lease. The lease program is available on all new smart fortwos through February 28, 2010.
"We are committed to offering a complete menu of financing options to maximize the sales potential of smart USA," said Franz Reiner, President and CEO of Daimler Financial Services. "As smart's captive finance company, we have vigorously supported smart USA with retail financing packages and provided customers with a high level of customer service."
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, environmentally friendliness and excellent value. There are 77 smart centers located in 36 states.
*Other rates/terms/tiers are available under this offer. Lease rate requires no capitalized cost reduction and no security deposit at inception and is calculated using a base MSRP of $11,990. Base monthly payment does not include tax, license, title, registration, documentation fees, additional options or insurance. Not all lessees may qualify.
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*.
* For 2010 models.Excludes tax, title, registration, destination charge, options and other dealer fees.
ABOUT PENSKE AUTOMOTIVE GROUP
Penske Automotive Group, Inc., 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, is the exclusive distributor of the smart fortwo vehicle and related parts in the United States. smart USA supports 77 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 financing 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: smart USA Distributor LLC
John (Jack) Ferry
Manager, Media Relations
Daimler Financial Services
Anthony R. Pordon
Senior Vice President
Penske Automotive Group
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