30 April 2015USA analysis

Mitsubishi replaces captive company

Mitsubishi Motors North America has replaced its captive financing company, Mitsubishi Motors Credit of America, with Ally Financial.

This broadens the Ally’s existing relationship with Mitsubishi Motors North America and continues to make Ally's suite of automotive financial products and services available to all Mitsubishi dealers and their customers.

Ally will provide retail and lease financing, wholesale financing, remarketing and insurance offerings to Mitsubishi's nearly 380 dealerships across the US.

Dealers will also be able to use Ally's education and training programmes, customised marketing benefits and its dealer service center, available seven days a week.

"Ally is committed to the success of our OEM and dealer relationships, and is continually looking for opportunities to strengthen those interactions with premium product offerings, best-in-class service and innovative ideas," said Tim Russi, president of auto finance for Ally. "We are pleased that Mitsubishi Motors North America has chosen to place its trust in Ally to support its retail sales growth plans and improved customer experience.”