Thursday, July 10, 2008

Nissan to Grow Car Rental Business

Nissan Motor Co., Ltd. and Nissan Financial Services, Co., Ltd. (NFS), a wholly-owned subsidiary of Nissan, today announced the decision to separate its car rental business division – Nissan Rent-a-Car - currently under NFS and integrate it under Nissan Network Holdings Co., Ltd.,* by December 2008.

In Japan, the car rental business is expected to grow further, due to the diversification of vehicle ownership patterns. As one of its core businesses, Nissan will establish a dedicated car rental subsidiary to facilitate the expansion of the business through the right allocation of resources and focused management.

NFS will continue to focus on its core business of vehicle leasing and financing.

Details related to the new car rental subsidiary will be announced in early-October.

*Nissan Network Holdings Co., Ltd. is a holding company responsible for the asset management of Nissan’s dealerships in Japan.

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