Nissan Motor also issued a statement last October 3 to remind customers of its policy of providing up to 90 days of relief for borrowers suffering from rough times. The policy isn’t aimed at furloughed workers but the company announced it as an opportunity.
According to Mark Kaczynski, president of Nissan’s automotive financing unit said that Nissan Motor Acceptance Corporation is sympathetic to its customers who are in difficult financial circumstances. He said that the company wants to provide help in times of uncertainty. He added that their customers’ needs are their top priority and this is why they have this program.
Hyundai’s payment deferment will last until Congress and President Barack Obama reach an agreement and the furloughed workers can have their jobs back. The automaker had requests from more than 1,000 customers to have their payments deferred.
John Krafcik, chief executive of Hyundai’s US unit, said that the shutdown has hurt its sales. Demand will fall between 5 percent and 10 percent in October compared to the previous month. He said that this was driven by concerns about the government shutdown.Read full story »