TOKYO/YOKOHAMA, Japan – Nissan Motor Co., Ltd. and Mitsubishi Motors Corporation today announced the launch of a branded sales finance operation for Mitsubishi in Canada, Australia and New Zealand.
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.
The relationship 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.
In Canada, Nissan Canada Finance will become Mitsubishi Motor Sales of Canada's captive financing partner for vehicle leasing and loan services to retail customers, and wholesale financing to Mitsubishi dealerships. The new division of Nissan Canada Finance will be branded to retail customers as Mitsubishi Motors Financial Services, effective July 1, 2017. It's the first business venture in Canada between Mitsubishi and Nissan since Mitsubishi Motors joined the global Alliance.
"Joining forces with Nissan Canada Finance is a positive step toward a branded customer service experience while driving loyalty through competitive rates and a broader range of financial options," said Tony Laframboise, president & CEO, Mitsubishi Motor Sales of Canada.
"The search for additional synergies under the global Alliance will continue with the ultimate goal of fostering growth for the Mitsubishi Motors brand in Canada," he added.
"The 158 dedicated team members at Nissan Canada Finance are fully committed to supporting the Alliance and welcome the opportunity to work with Mitsubishi Motor Sales of Canada, and its dealer body, to provide branded retail and lease products," said Kevin Cullum, president, Nissan Canada Finance.
Mitsubishi Motor Sales of Canada
Mitsubishi Motor Sales of Canada is the sales, service, parts and marketing arm for Japan's Mitsubishi Motors with 91 dealerships across Canada. With a product range consisting of Lancer sedan and Sportback, Mirage hatchback and G4 sedan, RVR compact crossover, Outlander compact sport utility and the all-electric i-MiEV hatchback, MMSCAN supports its dealerships with a head office team and parts distribution centre -- both located in Mississauga, Ontario. Established in 2002, MMSCAN and its dealerships employ over 1,200 people in communities large and small. In 2016, MMSCAN became the only automaker to partner with Breakfast Club of Canada with a goal of stimulating young minds and a brighter future in communities across the land.
Date Posted: June 5, 2017