Hyundai Motor Finance is expanding its territory.
The company announced today that it is offering captive financing for Canadian customers through dealers across Canada. The new auto financing arm is based in Toronto and is a subsidiary of Hyundai Motor Group. The company’s initial focus for its Canadian operation will be leasing.
The move gives Hyundai direct access to its consumers and could boost earnings and brand recognition for the company in Canada. Hyundai has offered cars in the Canadian market for more than 30 years.
Hyundai Motor America has about 820 dealerships in the United States. In Dec. 2014, Hyundai Motor America sold 64, 500 units, up 2% from Dec. 2013. Year-end sales totals for Hyundai Motor America totaled 725, 700 units, an increase from 720,800 units in 2013.
