- Apr 28, 2009
Honda gives Acura its own financial arm
2009 Acura TSX – Click above for a high-res image gallery
The late eighties is when it all happened for Japanese luxury vehicles in North America. But by the time Lexus and Infiniti launched in 1989, Acura was already on the market for three years. Since then, Acura customers in the U.S. looking to finance new cars went through the same American Honda Finance Corporation that bankrolls the purchases of new Honda cars, trucks, vans, motorcycles, lawnmowers, outboard marine engines and everything else the Japanese industrial giant builds (to the possible exception of corporate jets and robots), not to mention the establishment of new dealerships and all that entails.
That's all about the change with American Honda Motor Co.'s announcement of the launch of Acura Financial Services, a new financing arm for the company's luxury division that will handle the purchases of new Acuras. The move is part of an effort to distance Acura from the more commonplace offerings of its parent company, and to give the division its own look and feel. A strange time to launch a new financial company, but we'll see how it works out. Details in the press release after the jump. PRESS RELEASE
Dedicated Acura Financial Services Launched
New Acura-Branded Financial Services Created to Enhance Luxury Client's Experience
TORRANCE, Calif. - 04/23/2009
American Honda Finance Corp. (AHFC) this week launched Acura-branded financial services to better satisfy the needs of Acura dealers and customers. The creation of Acura Financial Services (AFS) marks a major milestone in Acura history. This is just the first step of a multifaceted effort to further enhance customer service and raise the brand image for Acura, the luxury nameplate that pioneered the launch of Japanese luxury automobiles in the U.S.
"With our most recent ranking in the top two, three and four positions in the luxury lease segment of the 2008 J.D. Power and Associates Consumer Financing Satisfaction Study, the timing is perfect to utilize our years of experience and expertise to create financial services that will meet the needs of Acura clients," said Stephen E. Smith, senior vice president of AHFC. "The creation of separate Acura-branded financial services parallels other moves to strengthen and differentiate the Acura luxury brand."
About American Honda Finance Corporation
American Honda Finance Corporation, a wholly-owned subsidiary of American Honda Motor Co., Inc., is the captive finance provider of consumer financial products for Honda and Acura automobiles, sport utility vehicles, trucks, minivans, Honda motorcycles, Honda power equipment, and Honda marine products. In addition, AHFC also provides Honda and Acura dealerships with vehicle floorplan programs, real estate, construction and capital loans, revolving lines of credit and inventory insurance.
Acura offers a full line of technologically advanced performance luxury vehicles through a network of 270 dealers within the United States. The Acura lineup features five distinctive models including the RL luxury performance sedan, the TL performance luxury sedan, the TSX sports sedan, the turbocharged RDX luxury crossover SUV and the award-winning MDX luxury sport utility vehicle. Acura also recently unveiled a prototype of the ZDX, an all-new luxury four-door sports coupe, at the New York International Auto Show that will go on sale this fall.
For additional information about Acura vehicles, please visit www.acura.com. For more financial services information, please visit www.acurafinancialservices.com. For media inquiries, please visit www.acuranews.com.