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Mazda Coronavirus Financial Relief and New Car Incentives

Like many brands who had been thriving due to great sales figures resulting from a strong economy, Mazda was in the midst of a strong start to the year. The new CX-30 SUV had been well received by both critics and consumers, and the auto brand was continuing on an upward trajectory. But then, the outbreak of COVID-19 brought life as we know it to an immediate halt, inciting economic stress and uncertainty on a suddenly fragile global economy.

Mazda Coronavirus Financial Relief and New Car Incentives

Mazda reported this year’s March sales (the time period in which the world began its united effort to slow the spread of the Coronavirus) and stated the brand experienced a 41.8% decrease in sales from March of 2019. The situation surrounding the COVID-19 outbreak and the negative effects it has had on both businesses and consumers most certainly impacted these figures.

In response to growing concerns surrounding the Coronavirus, Mazda has enhanced its focus on providing financial relief to its current vehicle owners and is offering some appealing incentives for new customers to buy or lease a new Mazda. The automaker recently announced the brand’s initiatives regarding Coronavirus car payment plans and other assistance programs available to its customers.

Mazda Customer Relief Programs - Find the best deals!

Mazda North American Operations (MNAO) is responding to the economic hardships brought on by COVID-19 by offering customers a wide range of payment plans and relief programs to ease the growing financial burdens many Americans are facing in this moment of crisis. On April 1st, 2020, Mazda Financial Services (MFS) was launched, marking Mazda’s newly created financial arm provided courtesy of Toyota Motor Credit Corporation (TMCC). 

Jeff Guyton, President of MNAO, released a statement regarding the launch, saying “The past few weeks have been unprecedented and disruptive. For many, Mazda vehicles play critical roles in the well-being and safety of their loved ones. We’re pleased to announce the launch of MFS today and the new range of products MFS will provide to meet the immediate needs of our customers today and in the future.”

While MFS will offer a variety of automotive financing and leasing programs, they will also offer additional services like insurance protection products and other services.

Prior to the launch of MFS, Mazda customers may have acquired financing or leased their vehicles through Mazda Capital Services (MCS). Current MCS customers who are experiencing financial hardship as a result of the Coronavirus are not to feel as if they have been overlooked. Mazda is offering payment extension programs lasting up to 90 days for current MCS customers. In addition, lessees who are near the end of their lease terms are eligible for a six-month lease extension in some situations.

For customers who are in immediate need of payment deferral options or customers who financed their vehicle through Mazda Capital Services/Chase Bank, Mazda encourages you to reach out to the company directly to discuss potential relief options. For Mazda loan customers, contact the company by telephone at 1-866-984-7718. Lessees should reach out to the company by calling 1-866-984-7716.

Mazda New Car Incentives - Find the best deals!

For consumers in the market for a new vehicle, Mazda has some enticing offers available on new and certified pre-owned vehicle models through the end of April. MFS has created a 90-day payment deferral program on new and certified pre-owned vehicles financed by April 30th. The offer is applicable to new purchase contracts with MFS for up to 72 months. It’s also worth noting that all 2020 Mazda vehicles and a majority of its 2019 models are eligible for a 90-day deferral and 0.9% APR financing.

Mazda encourages both current and potential customers to contact their local dealer to discuss the specific incentives available in their area. full details on all of these incentives. Though many showrooms may be currently closed to walk-ins, a large number of service departments have continued operation. Customers should check with their local dealer for hours and availability, as they may have changed as a result of the shelter-in-place orders put in place nationwide.

Mazda Factory Closures - Find the best deals!

Due to the outbreak and continued spread of COVID-19, Mazda was forced to suspend or alter its manufacturing schedule from March 28 to April 30 at its Hofu and Hiroshima facilities. While many of Mazda’s products are sourced from a variety of places from every corner of the world, all but the Mazda3 at the Hiroshima and Hofu factories. 

Outside of the two flagship locations in Japan, Mazda also shuttered production at its facility in Mexico on March 25th. This facility produces the Mazda3 for the North American market, and to date has not set a timetable for when production is set to resume at the facility.

Mazda Economic Outlook & Sales Forecast - Find the best deals!

Like many businesses and working Americans, the Coronavirus has wreaked havoc on the auto industry. This includes devastating Mazda’s March sales numbers due to shelter-in-place orders that forced Americans to stay in their homes, also resulting in dozens of dealerships closing their doors to showroom traffic. April sales are likely to only be worse, as social distancing continues and businesses remain at a standstill. As of now, Mazda has yet to update its sales outlook for the remainder of 2020 and has yet to comment on the company’s overall outlook on sales for the rest of the year.

J.D. Power released a statement regarding its 2020 outlook of 16.8 million U.S. light-vehicle sales, an outlook that was calculated before the globe was ground to a halt because of COVID-19. Due to the substantial strain the virus has put on the entire economy, it is no longer feasible to realistically attain these figures. J.D. Power expects sales to likely fall in the range of 14 to 16 million units due to the growing recovery efforts ahead due to the Coronavirus.