Serves the Commercial Small Fleet Market of 10 – 50 Vehicles

DaimlerChrysler Services Introduces Online Bidding For Off-Lease Vehicles

February 25, 2003

The remarketing division of DaimlerChryslerServices North America LLC introduces new Web based technological standards to facilitate the remarketing of both Chrysler Group and Mercedes-Benz vehicles.The Mercedes-Benz Credit Dealer Purchase Program Plus (DPP Plus) and the Chrysler Financial Electronic Lease Vehicle Inventory System (Web E.L.V.I.S.) both offer a new virtual inventory of used lease vehicles fordealers seeking the cost savings of shopping online.“The new online dealer purchase enhancements are a powerful prospecting tool and will allow multiple franchise dealers nationwide to bid on a vehicle without the added costs of traveling to auction,” said Kelly Mankin, vice president- Remarketing for DaimlerChrysler Services. “It is an excellent opportunity for dealers who use these Web based auctions to purchase select, quality vehicles from the comfort of their home or office.”Mercedes-Benz Credit ProgramAs part of a partnership with Manheim Online, the DPP Plus program is scheduled to rollout nationwide later this month and offers aneBay-like experience to dealers. Once a vehicle is returned, by the lessor to the original dealer, it is listed in the DPP Plus virtual inventory.If the grounding dealer chooses not to purchase the vehicle, the car is available for bidding in a closed auction environment by any Manheim Online participating Mercedes-Benz dealer for an additional 48 hours before being made available to all Manheim Online participating dealers.Chrysler Group ProgramPowered by AutoTradeCenter (ATC), Web E.L.V.I.S. rolled out this month nationwide providing similar online access to Chrysler Group dealers. Grounding dealerships have an exclusive purchase option before the vehicle is available in a closed auction environment to other Chrysler Group dealers. The auction creates a virtual used vehicle inventory. Ifthe vehicle is not sold within 48 hours, it is then available to all ATC participating dealers allowing them to research and purchasevehicles online.Both sites currently offer vehicle condition reports and the bidding process works similarly to a traditional auction. Transportationassistance is also available to the final bidder.About DaimlerChrysler Services North America LLCDaimlerChrysler Services North America LLC provides brand specific financing for automotive dealers’ inventories and their retail consumers and does business as Chrysler Financial and Mercedes-Benz Credit. As DaimlerChrysler Services Truck Finance it also finances commercial vehicles for affiliate products such as Freightliner, Sterling and Western Star. The company serves as the headquarters for the operations in the United States, Canada and Mexico and has over 5,000 employees who manage a portfolio of $83 billion with nearly five million contracts. DaimlerChrysler Services North America is a member of the DaimlerChrysler Services Group,headquartered in Berlin, Germany which operates in 39 countries with an employee base exceeding 10,000.
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