The Detroit News. The No. 5 automaker said last year it would form DaimlerChrysler Bank to offer investment funds, savings accounts and more insurance.
Automakers hope to boost earnings by expanding into other services beyond core operations.
General Motors Corp. , Ford Motor Co. and others already offer credit cards, insurance and bank accounts. From our point of view, they are promising. Nissan will sell a 33.3 percent stake in Tennex and become its second-largest shareholder after Mahle Filtersysteme. Tennex makes oil filters and engine systems. The factory, which manufactures the redesigned Beetle, will first close down for three days starting Monday.