Nissan taps EastWest Bank for financing program
Nissan Philippines Inc. (NPI) has partnered with East West Banking Corp. for a financing program to help more Filipinos own a Nissan vehicle.
Through the partnership, wholesale and retail financing options and loan facility products will be made available exclusively for Nissan customers in the country.
“Nissan’s launch of Nissan Finance in the Philippines, supported by our local partner EastWest, will help Nissan customers access a competitive finance package to assist them in owning their new Nissan.
This initiative will support Nissan sales and increase our support for dealers and customers in the Philippines and is the next step in the journey to support Nissan’s growth ambitions in the Philippine market,” said Rakesh Kochhar, senior vice president of global treasury and sales finance at Nissan.
NPI president and managing director Atsushi Najima said the financing program is aligned with the firm’s aim to deliver the best customer service and grow the business in the country.
“We put our customers at the heart of our business, from designing cars to providing services and customer care. The expansion of financing options through Nissan Finance is the next step in delivering the best customer services and our growth path in the Philippines,” he said.
For her part, Jacqueline Fernandez, senior executive vice president and head of consumer lending at EastWest said the partnership with one of the country’s leading automotive brands is strategic as it enables the bank to provide innovative auto loan products to customers.
“Through this partnership, we help more Filipinos fulfill their dream of experiencing their own Nissan,” she said.
The Philippines is the latest market to have the Nissan branded financial service program.
From January to October, NPI placed third in terms of sales among members of the Chamber of Automotive Manufacturers of the Philippines Inc.
As of the end of October, NPI’s sales increased by 30 percent to 36,677 units.
Most automotive players in the country saw a decline in sales last year due to the implementation of the first package of the government’s tax reform program which slapped higher taxes on vehicles.