DETROIT -- Mitsubishi Motors Corp.’s alliance with Nissan Motor Co. doesn’t necessarily mean more U.S. business for Nissan Motor Acceptance Corp. -- yet.
Mitsubishi Motors North America COO Don Swearingen, speaking at a press event ahead of the Detroit auto show, said the brand will honor the remaining 5½ years on its contract with Ally Financial Inc. for consumer financing.
But asked whether Mitsubishi might turn more to Nissan’s captive for floorplanning or other forms of dealership financing, Swearingen said, “Everything’s on the table.”
He didn’t say whether NMAC or Ally would get the nod from Mitsubishi after the current retail-financing contract with Ally ends.
Mitsubishi and Ally have an agreement through April 2022 that names Ally as Mitsubishi’s preferred provider for financial services, according to an Ally spokeswoman. As such, Mitsubishi endorses Ally as the preferred choice to provide retail, lease and commercial financing to its dealerships.
A Nissan North America spokeswoman referred queries to Mitsubishi.Cooperation
Mitsubishi and Nissan are still examining areas for possible cooperation following Nissan’s Oct. 20 purchase of a controlling 33.4 percent stake in its Japanese rival. In December, Nissan CEO Carlos Ghosn became chairman of Mitsubishi Motors Corp.
Swearingen affirmed that the two automakers are likely to share parts, as both sides have said previously.
But when asked about several other possible areas for cost sharing, he repeatedly said that options are under review, although he insisted that the two brands’ vehicle designs would remain distinctive.
That would be in line with the practice at the Renault-Nissan Alliance, where vehicle styling has remained distinct with very few cases of rebadging one maker’s vehicle for sale by the other.