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Nissan Looks to Launch China Auto Finance Firm

September 1, 2006

TOKYO—Nissan Motor Co. is planning to set up an automotive finance company in China by the end of 2007 and aims for at least 10 percent of its customers there to use the firm’s services, according to the Chattanooga Times Free Press.

Nissan plans to establish the auto-financing provider in Shanghai with its partner Dongfeng Motor Group Co. to further boost sales in the country.

Nissan hopes that with the launch of the new firm, Japan’s Nissan will join rival auto makers, such as Volkswagen AG and Toyota Motor Corp., which have already started auto financing services in China.

Nissan’s North American headquarters in Nashville, Tenn., has already reported strong sales growth for the company in the China market.

Nissan will hold a 65 percent stake in the new company.

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