Mitsubishi Bucks Trend in Finance Business

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While other carmakers withdraw from the uncertainty of vehicle financing in the US, Mitsubishi Motors has regained control of its finance subsidiary after three years. In 2005 Mitsubishi was struggling at headquarter level, and its US credit business was handed over to Merrill Lynch. However, the onset of the credit crunch made it difficult for Mitsubishi's US dealers to gain loan approval as Merrill Lynch encountered its own problems. Now, Mitsubishi Motors Credit of America's President Jeff Young claims that the company is 'recommitted' to the US market, although it realises that 'this is a period of uncertainty.'