DETROIT, April 27, 2015 /PRNewswire/ -- Ally Financial (NYSE: ALLY) and Mitsubishi Motors North America, Inc. (MMNA) today announced that Ally will become the preferred financing source for Mitsubishi Motors in the U.S., replacing the brand's captive finance company, Mitsubishi Motors Credit of America, Inc. The agreement broadens the existing relationship between Ally and MMNA, continuing to make Ally's full suite of automotive financial products and services available to all Mitsubishi dealers and their customers.
Through the agreement, Ally will provide its premium services and comprehensive product offerings, including retail and lease financing, wholesale financing, remarketing and insurance offerings, at Mitsubishi's nearly 380 dealerships across the U.S. Mitsubishi Motors dealers will also be able to leverage Ally's industry-leading education and training programs, customized 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."
The agreement with Ally is part of a number of initiatives that Mitsubishi Motors is undertaking as it grows its brand and continues to deliver outstanding sales momentum in the United States. Mitsubishi Motors just introduced its new design language concept with the world premiere of the new 2016 Mitsubishi Outlander at the New York International Auto Show to critical acclaim.
More than an appearance change, the new 2016 Outlander has received a complete makeover with a heavy emphasis on driving and ride quality by implementing over 100 improvements to the model from the previous year.
"Mitsubishi Motors has seen resurgence in sales with five quarters of year-over-year sales increases. We have accomplished this by bringing new models to market and, in large part, thanks to a loyal dealer network that has stayed with us during good times and bad. We are excited about our new models and the promise they bring," said Don Swearingen, executive vice president MMNA. "As we pursue our growth plans in this dynamic landscape, we are pleased to have a financial partner like Ally that can support us with the products and services that our dealers need and that will be integral to our success."
About Ally Financial Inc.
Ally Financial Inc. (NYSE: ALLY) is a leading automotive financial services company powered by a top direct banking franchise. Ally's automotive services business offers a full spectrum of financial products and services, including new and used vehicle inventory and consumer financing, leasing, vehicle service contracts, commercial loans and vehicle remarketing services, as well as a variety of insurance offerings, including inventory insurance, insurance consultative services for dealers and other ancillary products. Ally Bank, the company's direct banking subsidiary and member FDIC, offers an array of deposit products, including certificates of deposit, savings accounts, money market accounts, IRA deposit products and interest checking. Ally's Corporate Finance unit provides financing to middle-market companies across a broad range of industries.
With approximately $151.8 billion in assets as of Dec. 31, 2014, Ally operates as a financial holding company. For more information, visit the Ally media site at http://media.ally.com or follow Ally on Twitter: @Ally.
About Mitsubishi Motors North America, Inc.
Mitsubishi Motors North America, Inc., (MMNA) is responsible for all research & development, manufacturing, marketing, sales and financial services for Mitsubishi Motors in the United States. MMNA sells sedans and crossovers/SUVs through a network of approximately 380 dealers. MMNA is leading the way in the development of highly-efficient, affordably-priced new gasoline-powered automobiles while using its industry-leading knowledge in battery electric vehicles to develop future EV and PHEV models. For more information, contact the Mitsubishi Motors News Bureau at (888) 560-6672 or visit media.mitsubishicars.com.
Mitsubishi Motors North America
SOURCE Ally Financial