Mazda has parted ways with Ford Motor Credit Co. and will use Chase Auto Finance as its main source of financial services to dealers and customers. Starting next month, Chase Auto Finance will take care of Mazda’s lease and finance programs on its vehicles.
“This action has mutual benefits in the tough business environment and tight credit markets that are challenging the entire industry,” said Jim O’Sullivan Mazda’s North American CEO.
O’Sullivan made it clear that the change does not affect Mazda’s relationship with FoMoCo and that the American automaker still owns 33.4 percent of Mazda Motor Corp.
Ford customers who are currently financed through Mazda American Credit, a division of Ford Motor Credit Co. will continue doing business as is.
Source: Automotive News (Subscription Required)