MG Motor UK Appoints GMAC UK for Wholesale Financing

News provided by

Mar 22, 2012, 08:00 ET

BIRMINGHAM, England, March 22, 2012 /PRNewswire/ -- MG Motor UK today announced that it had appointed GMAC UK plc, a subsidiary of Ally Financial Inc., as its preferred wholesale financing provider for dealerships.

This expands on the existing preferred retail financing relationship between the two companies established last year.

Guy Jones, Sales and Marketing Director of MG Motor UK, said: "We chose GMAC as our preferred provider for wholesale and retail financing following a rigorous selection process. GMAC has demonstrated its leadership in the market with attractive financing offerings and high levels of service. The relationship with GMAC will be very beneficial as we seek to broaden our product line and increase sales in the UK."

Ed Paulat, GMAC UK Managing Director, said: "Following a successful initial cooperation for retail financing, it is a logical step to add a competitive wholesale financing programme for MG dealers. We are a full-service provider and see the potential as the MG brand expands in the UK market."

MG dealers may obtain wholesale financing from GMAC for new, demonstrator and used vehicle inventory. The GMAC sales team is making contact with dealers to introduce the wholesale financing programme.

GMAC UK became the preferred retail finance provider for MG Motor customers in October 2011. It is also the preferred finance provider for Vauxhall, Chevrolet and SsangYong Motors UK.

Last month, GMAC was recognized as the "Best Auto Finance Company 2012" by the Institute for Transport Management, based on an independent pan-European survey of manufacturers, dealers and customers.

(Photo: http://photos.prnewswire.com/prnh/20111028/DE95509 )

NOTE TO EDITORS:

MG Motor UK
MG Motor UK is based in Birmingham, England along with SAIC Motors European Technical Engineering Centre (SMTC) and they jointly employ 400 people in automotive styling, design, engineering, manufacturing and support services.

SAIC Motor
MG Motor UK is a subsidiary of SAIC Motor, China's largest automotive business, which sold over 4.01m vehicles in 2011. SAIC wholly owns the MG brand and the Roewe brand (sold in China).

MG6 GT and MG6 Magnette
The MG6 GT sports fastback and MG6 Magnette sports saloon were both designed and engineered in the UK by the SAIC Motor European Technical Centre (SMTC) based in Birmingham. Final assembly also takes place at MG Birmingham.

GMAC UK PLC
GMAC UK PLC is a subsidiary of Ally Financial Inc., one of the world's largest automotive financial services companies that offers a full suite of automotive financing products and services in key markets around the globe. With more than 90 years of successful experience in the United Kingdom, GMAC UK provides automotive financing products for Vauxhall, Chevrolet, SsangYong Motors UK and MG Motor dealers and consumers. For more information, visit the Ally media site at http://media.ally.com.

Contacts:
Doug Wallace – MG Motor UK
+44 (0)121 251 2910 or 07702 368586
[email protected] or
e-mail media enquiries to: [email protected]

Sue Mallino – GMAC UK / Ally Financial
313-656-6970
[email protected]

SOURCE Ally Financial