MANILA, Philippines ? Mitsubishi Motors Philippines Corp. (MMPC) is venturing into the automobile financing market through a joint venture with the country?s largest bank and two foreign partners.
MMPC said yesterday it signed a partnership agreement with BDO Leasing and Finance Inc., Sojitz Corp., and JACCS Co. Ltd. to establish an automotive financing services company that will exclusively cater to financing brand-new Mitsubishi vehicles.
MMPC Auto Financial Services Corp. (MAFS), the newly established auto financing services company, is expected to be operational by June this year to be headed by a nominee from Sojitz.
