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MITSUBISHI MOTORS CONTRIBUTES TO HURRICANE RELIEF FUND, ASSISTS LOCAL COMMUNITY, CUSTOMERS AND LOCAL SUBSIDIARY EMPLOYEES

 MITSUBISHI MOTORS CONTRIBUTES TO HURRICANE RELIEF FUND,


ASSISTS LOCAL COMMUNITY, CUSTOMERS AND LOCAL SUBSIDIARY EMPLOYEES
 CYPRESS, Calif., Sept. 8 /PRNewswire/ -- Mitsubishi Motor Sales of America Inc. (MMSA) today announced the creation of a collaborative effort with its affiliated automobile financing company, Mitsubishi Motors Credit of America (MMCA), and Florida- based rental car company Value Rent-A-Car Inc. to provide relief assistance programs to local customers, employees and the American Red Cross in the aftermath of Hurricane Andrew.
 The companies' coordinated efforts include provisions for more than $50,000 in relief funding as well as an immediate no-interest loan program to local employees who have suffered hurricane damages. In addition to collective contributions, MMCA is offering monthly auto loan payment deferrals and a buyers' assistance program for existing qualified customers affected by the storm.
 "In the wake of the damage created by Hurricane Andrew, we recognized these opportunities to take steps to aid our subsidiary employees, the local community and existing customers who have been affected by hardships," said Richard D. Recchia, vice president and chief operating officer for MMSA.
 "The relief funding along with American Red Cross contributions will provide the most expedient results, yet we are also pleased to be able to offer such aid as deferred car loan payments to help lighten the economic strain for our customers in affected areas of south Florida and coastal Louisiana," Recchia added.
 MMSA's subsidiary Value Rent-A-Car, with headquarters in Boca Raton, Fla., is extending a special relief program of up to 10 days of paid leave to employees in need and, in addition, has created an employee relief fund program which provides eligible employees with up to $10,000 in interest-free loans to be paid through payroll deductions.
 Value's employee relief fund has been established with a $40,000 contribution from Value, MMSA and MMCA and will be administered by a committee of Value employees. An additional $10,000 contribution will be made to the American Red Cross Hurricane Relief Fund.
 Additionally, for affected retail automobile customers, MMCA will defer new car payments for two months and waive the interest charges on those payments.
 Mitsubishi Motors dealers at 17 locations in the affected areas are also receiving a special incentive program of $1,500 for every Eclipse, Galant, Expo or Mighty Max model sold since the hurricane damage occurred on Aug. 23. The added incentives are intended to help dealers pass on savings to new car customers who are struggling with limited funds during the rebuilding efforts.
 Mitsubishi Motor Sales of America Inc. was established in 1982 by Mitsubishi Motors Corp., Tokyo, and markets a full line of subcompacts, compacts, sports coupes, grand touring cars, luxury performance sedans, sport wagons, light trucks and sport/utility vehicles.
 -0- 9/8/92
 /CONTACT: Steve Ford of the Mitsubishi News Bureau, 800-233-MMSA or (California) 800-828-MMSA/ CO: Mitsubishi Motor Sales of America Inc.; Value Rent-A-Car Inc;
 Mitsubishi Motors Credit of America ST: Florida IN: AUT SU:


KJ-LS -- LA013 -- 6839 09/08/92 09:04 EDT
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Publication:PR Newswire
Date:Sep 8, 1992
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