Nissan’s financing arms will be responsible for providing wholesale and retail financing options and will design products for participating Mitsubishi dealerships. The newly established services will exclusively use Mitsubishi Motors Financial Services as the brand interface to retail customers and will be available from June in Australia and New Zealand, and from July in Canada.
Mitsubishi Motors Financial Services will provide attractive and competitive financing options for customers, making it easier to buy a Mitsubishi. The company, a leader in four-wheel drive and sports utility vehicles, hopes that the new financing arm will attract more buyers, encourage loyalty among customers and provide additional support to dealers.
Koji Ikeya, Mitsubishi Motors’ Chief Financial Officer, said: “We will win customers’ loyalty with competitive rates and a broader range of financing options, and create a branded service experience. ” The partnership announced today follows Nissan’s purchase last year of a 34% equity stake in Mitsubishi Motors. The new financial services operation is one example of the substantial synergies available to the two companies as members of the Renault-Nissan Alliance, one of the world’s largest auto manufacturing groups.
Rakesh Kochhar, Senior Vice President of Global Treasury and Sales Finance at Nissan, said:
“Nissan’s new partnership with Mitsubishi Motors will enable us to help more customers buy their vehicles. We are committed to providing best-in-class services to our customers and dealers. It will generate more business, drive costs down, and increase our portfolio base.”
Nissan and Mitsubishi Motors are studying further collaboration to extend Nissan’s financing offerings to other international markets, generating more synergies.
