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Irvine-based Mazda North American and Chase ink deal
Mazda Capital Services will begin serving dealers and consumers later this year.
By Larry UrishPublished: April 13, 2010
Mazda North American Operations and Chase announced last Wednesday that the companies have signed a multiyear agreement in which the financial institution will serve as the sole domestic provider for Irvine-based Mazda. The new brand name created from this transaction, Mazda Capital Services, will begin serving Mazda dealers and auto buyers throughout the country later this year.
Since January 2009, when Chase became Mazda’s exclusive domestic auto finance provider under the Chase brand, the lender has served more than 625 U.S.-based Mazda dealers.
Domestic auto dealers and shoppers will benefit from this partnership, says Jim O'Sullivan, president and CEO of Mazda.
"Since we began our relationship a little over a year ago, both our dealers and our customers have been extremely pleased with the quality of the financial services provided by Chase," he says.
Chase was the No. 1 auto lender in the country in new loans last year, say company reps. The institution lent $23.7 billion to finance some 1.1 new and used vehicles.
“This is a win-win agreement that will benefit Mazda consumers as well as dealers," says Marc Sheinbaum,” Chase’s CEO for auto finance. "By working together, we will use our combined strength to provide dealers and consumers with products and services to drive sales under the Mazda brand."
Year-to-year Mazda sales have increased for the fifth straight month, according to the automaker. In an April 1 press release, sales of the Mazda3, CX-7 and CX-9 increased in March of this year, versus the same month last year.
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Since January 2009, when Chase became Mazda’s exclusive domestic auto finance provider under the Chase brand, the lender has served more than 625 U.S.-based Mazda dealers. Domestic auto dealers and shoppers will benefit from this partnership, says Jim O'Sullivan, president and CEO of Mazda. "Since we began our relationship a little over a year ago, both our dealers and our customers have been extremely pleased with the quality of the financial services provided by Chase," he says.Chase was the No. 1 auto lender in the country in new loans last year, say company reps. The institution lent $23.7 billion to finance some 1.1 new and used vehicles. “This is a win-win agreement that will benefit Mazda consumers as well as dealers," says Marc Sheinbaum,” Chase’s CEO for auto finance. "By working together, we will use our combined strength to provide dealers and consumers with products and services to drive sales under the Mazda brand." Year-to-year Mazda sales have increased for the fifth straight month, according to the automaker. In an April 1 press release, sales of the Mazda3, CX-7 and CX-9 increased in March of this year, versus the same month last year. Related headlines Clean Energy lands $8.4 million contract with L.A. agency Irvine officials consider joining airport coalition John Wayne Airport's improvement program spurs economic growth |
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