Japan’s export credit agency has backed a plan to help finance Nissan sales in the US.
Nissan is set to receive a large loan from Japan’s export credit agency in order to help the car company offer finance to US customers.
News outlet Reuters reports the state-owned Japan Bank of International Cooperation (JBIC) will extend credit of US$2 billion (AU$2.72B) to Nissan, with the view to improve export sales to the US.
Nissan will use the credit to offer American customers attractive car loan deals, with the expectation of boosting new-car sales in the largest international market outside of China.
In a statement issued by the JBIC, it said the US “is an important market for Japanese automobile manufacturers. Sales finance has become an important tool in business strategy”.
It’s the second such loan for the Japanese car maker since July 2020, when the bank provided US$582 million (AU$790M) in credit to assist Nissan’s Brazilian arm.