NMAC Eyes Finance Opportunity with Mitsubishi Vehicles
BOSTON — Nissan Motor Acceptance Corp. may finance Mitsubishi vehicles in the future, according to a company spokesman. “That is a possibility, yes,” he said at the AFSA Credit Summit for Fixed Income Investors in early June. “That investment has not been approved by the regulatory regime yet, but there is a possibility that NMAC would finance Mitsubishi vehicles.”
Nissan Motor Co. announced in May that it would take a 34% stake in Mitsubishi Motors Corp., giving Nissan about 500 million shares and de facto control as the largest shareholder upon closing, according to company documents. The partnership is the latest alliance for Nissan, which has had a “strategic partnership” in place with French auto manufacturer Renault since 1999 as well.
“Consolidation doesn’t work; alliances work,” the spokesman said. “We have an alliance with Daimler as well for contract manufacturing and things along those lines. We believe that’s a better model for how we operate.”
NMAC had $46.2 billion in outstandings by the end of 2015, according to the Big Wheels Auto Finance 2016 report.
