SHANGHAI, Nov.7, 2011 /PRNewswire-Asia/ -- SGM-Wuling has selected GMAC-SAIC as official preferred financing provider for its new passenger vehicle brand Baojun in China. GMAC-SAIC will provide wholesale financing for Baojun dealers and retail financing for customers.
"The cooperation with GMAC-SAIC will help dealers to fund their inventory, while giving Baojun customers the opportunity to obtain retail financing through an experienced and trusted financing source in the industry," said Mr. Wen Hong, marketing and business development director of passenger vehicles, SGM-Wuling.
"We are extremely pleased to enter this new relationship with Baojun and look forward to working with Baojun supporting its dealership network expansion," said Rick Livingood, GMAC-SAIC general manager. "This relationship will also help to further diversify and enlarge our customer base in China."
GMAC-SAIC and Baojun have entered into a multi-year agreement for the preferred financial provider services.
As the first and largest auto finance company in China, GMAC-SAIC provides retail finance to a number of local and international brands in China and is the preferred wholesale financing provider for all Shanghai GM brands.
About Baojun
Baojun is a brand new passenger vehicle launched by SGM-Wuling in July, 2010. It is a self-owned brand that has combined technology, experience and local production advantages of the JV, with a dedicated dealership network; it is also a brand to provide Chinese consumers with international standard quality, reliability and reasonable pricing. The Baojun brand is positioned as a "reliable partner," a brand spirit of "positive, prudent, smart," which aims to provide consumers with products that are "valuable and proud to own."
About GMAC-SAIC
GMAC-SAIC Automotive Finance Co., Ltd. is a joint venture between Ally Financial Inc. (formerly GMAC Inc.), Shanghai Automotive Group Finance Co., Ltd. (SAICFC) and Shanghai General Motors Corp. Ltd. (Shanghai GM). Ally Financial Inc. is one of the world's largest automotive financial services companies and offers a full suite of automotive financing products and services in key markets around the globe. SAICFC, a subsidiary of Shanghai Automotive Industry Corp. Group, is one of China's most successful non-banking finance companies. Shanghai GM is a joint venture established by General Motors Corp. and Shanghai Automotive Industry Corp. Group (SAIC), a leading passenger car manufacturer in China.
Media Contact:
Sue Mallino
Phone: +1-313-656-6970
Email: Sue.mallino@ally.com
Emily Yang
Phone: Emily.yang@gmacsaic.com
Email: +86-21-28936265
