Toyota Financial Services Finances Over $100 Billion In Retail and Lease Contracts

Apr 25, 2001, 01:00 ET from Toyota Financial Services

    TORRANCE, Calif., April 25 /PRNewswire/ -- This month, Toyota Financial
 Services (TFS) surpassed the $100 billion mark for the financing of
 automotive-related retail and lease contracts.
     Since opening its doors in 1983, TFS has grown from a small company with
 eight associates to become the third largest captive finance company, and the
 9th largest finance company in the United States.  TFS currently employs over
 2700 associates nationwide, and has managed assets totaling $32 billion.
     George Borst, President and CEO of Toyota Financial Services, said,
 "The foundation of our success has been the ability to provide consistent,
 long-term support to our dealers, as well as provide quality products and
 service to our mutual customers.  In addition, our continued growth has been a
 result of making ongoing changes to meet new business opportunities."
     The Toyota Financial Services of today started its humble beginnings as
 Toyota Motor Credit Corporation (TMCC).  It incorporated in California on
 October 4, 1982, and commenced operations in May 1983 by approving a loan for
 a used Toyota Corolla in Denver, Colorado.  The company continues to provide
 retail and wholesale financing, retail leasing and certain other financial
 services to authorized Toyota and Lexus dealers and Toyota Industrial
 Equipment dealers, Toyota Marine Sports dealers, affiliates and their
 customers in the United States (excluding Hawaii).
     TMCC is part of the worldwide financial services operations for Toyota
 Financial Services Corporation (TFSC), which is a wholly owned subsidiary of
 Toyota Motor Corporation (TMC) in Japan.  Currently, there are 32 branch
 offices in various locations in the United States, one branch office in Puerto
 Rico, three regional offices and a centralized customer service center in
 Cedar Rapids, Iowa.
     Toyota Motor Insurance Services, Inc. (TMIS) was established in 1986 as a
 subsidiary of TMCC.  They provide vehicle protection plans and insurance
 products to authorized Toyota and Lexus dealers and Toyota Industrial dealers,
 affiliates and their customers in the United States (excluding Hawaii).
 Currently, there are 6 regional offices in various locations in the United
 States.  All administration and customer service functions are handled by the
 Toyota Financial Services Center in Cedar Rapids, Iowa.
     The Toyota Financial Services (TFS) brand identity was launched in
 December 1999.  TFS is a service mark that acts as an umbrella for marketing
 both finance and insurance products under one name.
 
     (Note: Figures include retail and lease volume in U.S. (including Puerto
 Rico) from FY '84 through FY '01.  Total number of retail and lease contracts
 is 5,411,389 for the time period.)
 
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SOURCE Toyota Financial Services
    TORRANCE, Calif., April 25 /PRNewswire/ -- This month, Toyota Financial
 Services (TFS) surpassed the $100 billion mark for the financing of
 automotive-related retail and lease contracts.
     Since opening its doors in 1983, TFS has grown from a small company with
 eight associates to become the third largest captive finance company, and the
 9th largest finance company in the United States.  TFS currently employs over
 2700 associates nationwide, and has managed assets totaling $32 billion.
     George Borst, President and CEO of Toyota Financial Services, said,
 "The foundation of our success has been the ability to provide consistent,
 long-term support to our dealers, as well as provide quality products and
 service to our mutual customers.  In addition, our continued growth has been a
 result of making ongoing changes to meet new business opportunities."
     The Toyota Financial Services of today started its humble beginnings as
 Toyota Motor Credit Corporation (TMCC).  It incorporated in California on
 October 4, 1982, and commenced operations in May 1983 by approving a loan for
 a used Toyota Corolla in Denver, Colorado.  The company continues to provide
 retail and wholesale financing, retail leasing and certain other financial
 services to authorized Toyota and Lexus dealers and Toyota Industrial
 Equipment dealers, Toyota Marine Sports dealers, affiliates and their
 customers in the United States (excluding Hawaii).
     TMCC is part of the worldwide financial services operations for Toyota
 Financial Services Corporation (TFSC), which is a wholly owned subsidiary of
 Toyota Motor Corporation (TMC) in Japan.  Currently, there are 32 branch
 offices in various locations in the United States, one branch office in Puerto
 Rico, three regional offices and a centralized customer service center in
 Cedar Rapids, Iowa.
     Toyota Motor Insurance Services, Inc. (TMIS) was established in 1986 as a
 subsidiary of TMCC.  They provide vehicle protection plans and insurance
 products to authorized Toyota and Lexus dealers and Toyota Industrial dealers,
 affiliates and their customers in the United States (excluding Hawaii).
 Currently, there are 6 regional offices in various locations in the United
 States.  All administration and customer service functions are handled by the
 Toyota Financial Services Center in Cedar Rapids, Iowa.
     The Toyota Financial Services (TFS) brand identity was launched in
 December 1999.  TFS is a service mark that acts as an umbrella for marketing
 both finance and insurance products under one name.
 
     (Note: Figures include retail and lease volume in U.S. (including Puerto
 Rico) from FY '84 through FY '01.  Total number of retail and lease contracts
 is 5,411,389 for the time period.)
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X57963744
 
 SOURCE  Toyota Financial Services