Mitsubishi Finance Arm Seeks Partner

Struggling Mitsubishi Motors Corp. is looking for a partner to help its finance arm, Mitsubishi Motors Credit of America Inc.

In 2001, the finance unit offered zero-interest, no-money-down financing. This policy cost the company $783 million in losses over the two fiscal years ended August, reported Bloomberg.

A Mitsubishi spokesperson said it is talking with four undisclosed finance companies about a potential partnership.