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MAZDA, CHASE SIGN MULTI-YEAR PRIVATE-LABEL AUTO FINANCING AGREEMENT
IRVINE, Calif. - Mazda North American Operations (MNAO) and Chase today announced that they have expanded their relationship by signing a multi-year private-label agreement under which Chase will be the exclusive U.S. auto finance provider for Mazda, operating under the brand name Mazda Capital Services. The Mazda Capital Services brand will roll out to Mazda dealers and consumers later this year.
"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," said Jim O'Sullivan, president & CEO, MNAO. "I fully expect this new long-term strategic financial alliance will result in even greater benefits for our Mazda dealers and customers and will be a prime contributor to our future growth in the U.S."
Chase became the exclusive U.S. auto finance provider for Mazda, under the Chase brand, in January 2009. Since that time, a dedicated Chase team has offered retail and lease financing to Mazda's customers through the more than 625 U.S.-based Mazda dealers.
"This is a win-win agreement that will benefit Mazda consumers as well as dealers," said Marc Sheinbaum, Chief Executive Officer for auto finance at Chase. "Chase has developed a reputation as a top-notch consumer and dealer finance provider for auto manufacturers, and Mazda has built a strong brand with consumers during its 40 years in the United States. 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."
Chase was the No.1 auto lender in the United States in new loan production in 2009, lending $23.7 billion to finance 1.1 million new and used vehicles for consumers.
Celebrating its 40th Anniversary in the United States in 2010, Mazda North American Operations is headquartered in Irvine, Calif. and oversees the sales, marketing, parts and customer service support of Mazda vehicles in the United States, Canada and Mexico through nearly 900 dealers. Operations in Canada are managed by Mazda Canada, Inc., located in Ontario; and in Mexico by Mazda Motor de Mexico in Mexico City.