The company, which expects to write around €70m worth of business in its first year, is a joint venture between Toyota Financial Services, Toyota Motor Corporation’s international finance arm, and Toyota Ireland - the 100pc Irish-owned distributor of Toyota and Lexus cars in Ireland. Toyota Financial Services currently has around €160bn in assets under management throughout the world, however this is the first time it has entered into such an agreement with a national distributor. Mr D’Arcy went on to say that the venture was a powerful signal to the international financial services industry that the financial services arm of the world’s largest motor manufacturer has entered the Irish market in partnership with Toyota Ireland. Also in attendance at the event were Mr. Shinya Kotera, senior executive vice-president, Toyota Financial Services Corporation, Mark Templin, chief operations officer of Toyota Financial Services Corporation, Steve Tormey, chief executive, Toyota Ireland, and François Radot, chief executive, Toyota Financial Services (Ireland). Personal contact plan rates with Toyota Financial Services will start at 2.9pc, and average at 3.9pc, the company said.

Source: Irish Independent February 13, 2018 13:52 UTC