Mitsubishi Coronavirus Financial Relief and New Car Incentives

With every passing day, the world is experiencing a state of growing unrest as the Coronavirus pandemic continues to ravage the world, seemingly one nation at a time. Workers from every corner of the country are losing their jobs and wondering how to make ends meet from day to day. The automotive industry is collectively aware of the financial hardships and mounting economic pressures consumers are facing in the wake of COVID-19. This includes Mitsubishi Motors North America, a brand forging ahead with a slew of new initiatives created to reassure and assist its current and potential customers through this difficult period.

Mitsubishi Coronavirus Financial Relief and New Car Incentives

With COVID-19 sending the world into a relative standstill, the virus continues to spread as mitigation efforts continue, though disruptions throughout every industry are apparent. Every household in the nation is experiencing the effects of the Coronavirus to some degree or another. Mitsubishi is one of many automotive brands who are implementing their own version of Coronavirus car payment plans to new and existing customers.

We have provided a summary overview of the available programs and relief efforts the company is putting forth for their customers in these unsettling times.

Mitsubishi Customer Relief Programs - Find the best deals!

As mentioned above, Mitsubishi is amongst a lengthy list of companies offering some form of assistance to new and existing customers in the wake of the Coronavirus pandemic.

Current Mitsubishi owners who purchased their vehicles through the company’s financial arm, Ally Financial, who find themselves in a difficult economic situation as a result of the Coronavirus are encouraged to contact Ally and discuss payment deferral options. Mitsubishi is offering deferral options for up to 120 days for qualifying customers.

Customers are also encouraged to be proactive in handling their accounts during this challenging period. This is particularly important for customers who may be enduring financial challenges as a result of the current pandemic. Being diligent in contacting your financial institution to discuss your options is considered best practice. Ally Financial can be contacted on their website or by calling 1-855-298-2559, where you can discuss your options with a representative.

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Mitsubishi New Car Incentives - Find the best deals!

Mitsubishi has a number of appealing incentives available to new customers. Well-qualified customers are eligible for a 90-day deferred payment plan option that Mitsubishi is offering for customers who purchase their new vehicle through Ally Financial. Eligibility requirements are based on a number of factors including individual credit ratings. Customers are encouraged to contact their local dealer to further discuss eligibility terms and requirements.

In addition to deferred payment plan options, Mitsubishi is also offering 0% interest financing for up to 60 months on its entire lineup of 2019 and 2020 model year vehicles, plus up to an additional $1,250 in bonus cash. Or customers can choose to forgo the financing deal and receive up to a $3,000 rebate on remaining 2019 Outlander, Outlander Sport, and Eclipse Cross models. Additional lease offers are also available on certain models, valid through April 30, 2020.

While some service and repair centers are still operating, customers should first call their local dealership to confirm any current or future appointments. New and existing customers can also reach out to Mitsubishi’s customer relations team at 1-888-648-7820.

Mitsubishi Factory Closures - Find the best deals!

Mitsubishi no longer produces vehicles in North America as of 2016, when the company shut down its Normal, Illinois plant. The automaker has a number of partnerships around the globe, with stake in the Renault-Nissan-Mitsubishi alliance and a strong partnership with the Guangzhou Automotive Group. On April 2nd, amid the growing concerns surrounding COVID-19, Mitsubishi Motors Corporation announced that production would be suspended temporarily in its Japanese factories.

While plants in Japan are in the midst of the systematic closures noted above, the Guangzhou factory has resumed operations in China. Mitsubishi has slated the potential re-opening dates with varying ranges, with somewhere between April 10th to April 23rd as the anticipated target date. This target is most certainly dependent upon regional and national status in regards to the fight against the Coronavirus.

It should be noted that while 28% of Mitsubishi’s independently owned dealer showrooms are closed for sales transactions, an additional 27% are currently open still by appointment only in response to safety concerns and the focus on social distancing. A number of service and repair operations are still available for customers, with Mitsubishi stating it is carefully following CDC recommendations and guidelines for all of its locations and employees. Due to complications to production and the supply chain resulting from the Coronavirus, inventory varies by dealership, so contact your local dealer to find out about stock availability in your area.

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

The impact of COVID-19 has been prolific, and Mitsubishi is feeling those effects first hand. The company reported March sales of only 9,394 units, representing a 52% decline from March of last year. Though Mitsubishi had a strong showing in both January and February, the company was still down 15.5% for the quarter.

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.