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Monday, 5 June 2017, 12:23 HKT/SGT
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Source: Mitsubishi Motors
Nissan and Mitsubishi Motors Join Forces to Offer Financial Services
Branded service to offer financing for Mitsubishi vehicles in
Australia, New Zealand and Canada

TOKYO, June 5, 2017 - (JCN Newswire) - Nissan Motor Co., Ltd. and Mitsubishi Motors Corporation today announced the launch of a branded sales finance operation for Mitsubishi in Australia, New Zealand and Canada.

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 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.

About Nissan Motor Co., Ltd.

Nissan is a global full-line vehicle manufacturer that sells more than 60 models under the Nissan, Infiniti and Datsun brands. In fiscal year 2016, the company sold 5.63 million vehicles globally, generating revenue of 11.72 trillion yen. Nissan engineers, manufactures and markets the world's best-selling all-electric vehicle in history, the Nissan LEAF. Nissan's global headquarters in Yokohama, Japan, manages operations in six regions: Japan, Asia & Oceania; Africa, Middle East & India; China; Europe; Latin America; and North America. Nissan has a global workforce of 247,500 and has been partnered with French manufacturer Renault under the Renault-Nissan Alliance since 1999. In 2016, Nissan acquired a 34% stake in Mitsubishi Motors, which became the third member of the Alliance - a grouping with combined annual sales of almost 10 million units a year.

For more information about our products, services and commitment to sustainable mobility, visit nissan-global.com. You can also follow us on Facebook, Instagram, Twitter and LinkedIn and see all our latest videos on YouTube.


About Mitsubishi Motors

Mitsubishi Motors Corporation is the fifth largest automaker in Japan and the fifteenth largest in the world by global unit sales. It is part of the Mitsubishi keiretsu, formerly the biggest industrial group in Japan, and was formed in 1970 from the automotive division of Mitsubishi Heavy Industries.

Throughout its history it has courted alliances with foreign partners, a strategy pioneered by their first president Tomio Kubo to encourage expansion, and continued by his successors. A significant stake was sold to Chrysler Corporation in 1971 which it held for 22 years, while DaimlerChrysler was a controlling shareholder between 2000 and 2005. Long term joint manufacturing and technology licencing deals with the Hyundai Motor Company in South Korea and Proton in Malaysia were also forged, while in Europe the company co-owned the largest automobile manufacturing plant in the Netherlands with Volvo for ten years in the 1990s, before taking sole ownership in 2001.

Contact:
Mitsubishi Motors
Public Relations Department
http://www.mitsubishi-motors.com 
+81-3-6852-4275


June 5, 2017 12:23 HKT/SGT
Source: Mitsubishi Motors

Topic: Press release summary
Sectors: Automotive
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