Lloyds Banking Group has been chosen as the sole preferred provider of retail and wholesale finance and leasing for Mitsubishi Motors in the UK.
The deal, agreed by Mitsubishi importer International Motors Group, includes access for customers to hire purchase, personal contract purchase and lease purchase products via the Black Horse motor finance business, and contract hire and finance leasing through Lex Autolease.
The agreement is said to extend a joint venture relationship between Lloyds Banking Group and International Motors that has been in place for more than 25 years through International Motors Finance, which already provides retail and wholesale finance across IMG’s Subaru, Isuzu, GWM and Xpeng brands in the UK.
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Mitsubishi is making its UK market comeback this summer with the Outlander SUV and L200 pick-up truck, having previously stopped new vehicle sales here in 2021.
Mitsubishi return ‘a welcome moment’
Nick Williams, managing director for transport at Lloyds Banking Group, said: “Mitsubishi’s launch of new products is a welcome moment for the UK market, and a clear vote of confidence in the UK as a place to do business.
“The Outlander PHEV and L200 are two of the most familiar names in their segments, and the new models arrive at a time when drivers and fleets are actively looking for capable, affordable, and lower-emission options.
“With £10 billion of financing since 2021 helping support one in eight hybrid and electric vehicles on UK roads, our role as the country’s biggest car finance provider is to make the route to ownership as straightforward as possible.
“Extending our long-standing partnership with International Motors to support Mitsubishi Motors in the UK gives dealers and customers the full range of retail and wholesale products.”
Toby Marshall, managing director at Mitsubishi Motors in the UK, said: “The launch of new Mitsubishi products in the UK is a significant moment for International Motors and for our dealer network.
“Having Lloyds Banking Group as our sole preferred finance and leasing partner from the outset gives us the scale, sector expertise, and product breadth we need to support customers.
“This builds on a relationship that has worked well across our other brands for more than two decades, and we are confident Mitsubishi Motors in the UK and our customers will benefit from the resource and relationship brought to our retail network by Lloyds Banking Group.”