Yamaha Motor’s finance arm launched a financial program for prime customers as its own service. The service used to be a collaboration with a U.S. financial institution, but now the company will offer financial programs for all customers and sales channels in the United States as its own service through Yamaha Motor Finance Corp. U.S.A., according to the company.
In the current midterm business plan, announced in December 2018, Yamaha Motor Co. positions financial services as one of the key strategies for strengthening customer relations and ensuring stable revenue.
The company’s goal is to have an outstanding loan balance of 450 billion yen, about $409 billion, by the end of 2021 by expanding into more business fields and markets. The financial service expansion in the United States is a part of the company's initiatives to expand into business fields along with the midterm business plan.
Yamaha Motor Finance Corp. U.S.A purchased loan receivables for prime personal customers from the U.S. financial institution in January.
In December, Yamaha’s finance arm launched a new “full-spectrum” installment loan program that would be available through Yamaha powersports and marine dealers. That program replaced a system that had been managed by different banks over the past 15 years.