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Chase, Mazda Extend Agreement To Private-label Financing Business

Chase, a subsidiary of JPMorgan Chase, and Mazda North American operations have expanded their relationship by signing a multi-year private-label agreement under which Chase will be the exclusive US auto finance provider for Mazda, operating under the brand name Mazda Capital Services.

The Mazda Capital Services brand will roll out to Mazda dealers and consumers later this year.

In January 2009, Chase became the exclusive US auto finance provider for Mazda, under the Chase brand. Since that time, a dedicated Chase team has offered retail and lease financing to Mazda’s customers through the more than 625 US-based Mazda dealers.

Jim O’Sullivan, president and CEO of Mazda North American Operations, said: “Since we began our relationship a little more than a year ago, both our dealers and our customers have been extremely pleased with the quality of the financial services provided by Chase. I fully expect this new long-term strategic financial alliance will result in even greater benefits for our Mazda dealers and customers and will be a prime contributor to our future growth in the US.”

Marc Sheinbaum, CEO for auto finance at Chase, said: “Chase has developed a reputation as a top-notch consumer and dealer finance provider for auto manufacturers, and Mazda has built a strong brand with consumers during its 40 years in the US. By working together, we will use our combined strength to provide dealers and consumers with products and services to drive sales under the Mazda brand.”