Ally Financial Named Preferred Finance Source for The Vehicle Production Group

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Jan 23, 2012, 09:15 ET

DETROIT, Jan. 23, 2012 /PRNewswire/ -- The Vehicle Production Group LLC (VPG) selected Ally Financial as the preferred financing provider for VPG vehicles in the U.S. Ally Financial will offer wholesale financing, floorplan insurance and remarketing services for VPG dealers, as well as retail financing for their customers.

VPG introduced the MV-1 mobility vehicle in September 2011. It is the first factory-built mobility vehicle that is compliant with American Disabilities Act guidelines, designed and engineered for efficient wheelchair accessibility. The MV-1 is assembled by AM General LLC in Mishawaka, Ind., and is offered in several models, including a factory-direct compressed natural gas (CNG) fueling system.

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"Ally has the breadth of financing products and depth of industry experience that will benefit our company and its customers," said Fred Drasner, CEO and Chairman of VPG. "We selected Ally because it demonstrated the ability to work with manufacturers in tailoring programs to support sales, while servicing customer accounts with world-class quality. Our mission is to help people with disabilities and their caregivers with a built-from-the-ground-up transportation solution. We sought a national company that can competitively finance our new, unique mobility vehicle – and found that ally in Ally Financial."

VPG and Ally have entered into a multi-year agreement for the preferred provider financing relationship.

Mark Manzo, vice president of Alliance Sales at Ally Financial, said: "We are proud to add The Vehicle Production Group to our list of preferred clients. Our underwriting team stands ready to support MV-1 sales. The relationship with VPG will enable us to serve the growing population in need of mobility vehicles." According to the U.S. Census Bureau, 3.3 million people in the U.S. age 15 years and older used a wheelchair in 2010.

In the U.S., Ally Financial is currently the preferred financing provider for General Motors, Chrysler, Fiat, Maserati and Saab vehicles and Thor Industries RVs. The company finances both new and used vehicles, as well as offering insurance products and remarketing services for auto and RV dealers.

About The Vehicle Production Group LLC

Headquartered in Miami, Florida, The Vehicle Production Group LLC (VPG) designs, manufactures, markets and distributes the first mobility vehicle engineered from the ground up for wheelchair accessibility. For additional information about the company or MV-1, including pricing, specifications and available options, visit www.vpgautos.com or call 1-877-MV1-FORU (1-877-681-3678).

About Ally Financial

Ally Financial Inc. (formerly GMAC Inc.) is one of the world's largest automotive financial services companies. The company offers a full suite of automotive financing products and services in key markets around the world. Ally's other business units include mortgage operations and commercial finance, and the company's subsidiary, Ally Bank, offers retail banking products. With approximately $182 billion in assets as of Sept. 30, 2011, Ally operates as a bank holding company. For more information, visit the Ally media site at http://media.ally.com.

Contact: Sid Dinsay
DKC Public Relations
212-685-4300
[email protected]

Sue Mallino
Ally Financial
313-656-6970
[email protected]

SOURCE Ally Financial