SsangYong Motor UK Selects GMAC UK as Preferred Finance Provider

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Feb 01, 2012, 08:00 ET

LUTON, England, Feb. 1, 2012 /PRNewswire/ -- SsangYong Motor UK Ltd has selected GMAC UK plc, a subsidiary of Ally Financial Inc., to be its preferred financing provider for SsangYong vehicles in the UK. GMAC UK will provide wholesale financing for dealers and retail financing for customers.

Paul Williams, CEO of SsangYong Motor UK, said: "We are delighted to have appointed GMAC after a rigorous selection process. Working with GMAC will support the growth of our business and help our dealers fund their inventory, while giving SsangYong customers the opportunity to obtain retail financing through a trusted company. This important agreement allows us to offer a competitive range of retail finance products for the new Korando, as well as on Rexton, Rodius and other new models in the future."

"We look forward to establishing a strong relationship with SsangYong Motor dealers and offering attractive financing programs for their customers," commented Ed Paulat, GMAC UK managing director. "This new affiliation with SsangYong represents another step in GMAC expanding its customer base and further leverages our core competency in auto financing."

GMAC and SsangYong Motor have entered into a multi-year agreement to finance wholesale and both standard and supported retail business. "The announcement of the new partnership to the SsangYong dealer network at our first quarter meeting was enthusiastically received," Williams said.

GMAC is also the preferred finance source for Vauxhall, Chevrolet and Saab dealers and their customers in the UK, as well as the preferred provider of consumer financing for MG Motor vehicles.

SsangYong Motor UK
Korean car maker SsangYong recently underwent a 70% acquisition by Indian engineering conglomerate Mahindra & Mahindra to give the company a secure footing globally, while the future of the brand in the UK was assured through new investment in the importing company by the European automotive distribution company, Bassadone Automotive Group.

The present network of 54 dealers is to be expanded in 2012 to sell and service the following SsangYong models:

Korando - contemporary crossover model, from 16,995 pounds Sterling
Rexton - rugged 4x4 with superb towing and off-road abilities, from 19,995 pounds
Rodius - spacious seven-seat MPV available in front or all-wheel-drive form, from 14,995 pounds
Rexton CS - commercial version of the Rexton 4x4, from 16,399 pounds (excluding VAT and on the road charges)

Information about the SsangYong model range is available from: www.ssangyonggb.co.uk

GMAC UK PLC
GMAC UK PLC is a subsidiary of Ally Financial Inc. (formerly GMAC 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 and Saab dealers and consumers, as well as retail financing to MG Motor. For more information, visit the Ally media site at http://media.ally.com.

Contacts:

Jeremy Clarke – LawsonClarke PR for SsangYong Motor UK
+44 (0)1285 658844
[email protected]

Susanne Gehrling – GMAC UK / Ally Financial
+49 6142 604 566
[email protected]

SOURCE Ally Financial