Executive Update with Kyle Birch
Published February 4, 2013
Dear GM Dealer,
Happy New Year to you and your entire dealership team from all of us at GM Financial. We were pleased to wrap up 2012 having made significant progress helping GM consistently increase its market share to 8.1 percent in the non-prime segment, compared to the industry average of 5.7 percent. This year looks to be even more promising as we further entrench our status as GM's captive by offering industry-leading retail, lease and commercial financing products to GM dealers across North America.
As the competitive landscape heats up in the non-prime space with a growing number of startup companies and easier access to capital, GM Financial is working hard to remain competitive and earn your business. Specifically, we're working towards more flexibility for back-end allowances and increasing auto approvals and funding times. We recently launched GMFDealerSource.com, our end-of-lease website – also available as a mobile and tablet app – to make the grounding and purchase process easy and efficient. And, we will continue to expand our commercial lending program this year. At year-end, we had 108 GM dealers doing floorplan and other commercial business with us and we plan to add about 200 or more dealers in 2013.
If you are planning to attend the 2013 NADA Convention and Expo in Orlando, be sure to stop by the GM Financial booth (#375) – we're located right next to GM. Come by to learn more about how we can help you meet your business goals this year and into the future. We look forward to meeting you.
EVP Dealer Services
*As used in this article, "loans" include retail installment sale contracts
originated by dealers and purchased by the company.