Mary Barra Celebrates New Floorplan Dealer Paul Masse
Published Jun. 2017
For Paul Masse, owner of several GM dealerships in the Providence, Rhode Island, area – one bid at GM’s United Way end-of-year charity event led to face time with GM Chairman and CEO Mary Barra, and GM Executive Vice President and President, North America Alan Batey.
For GM Financial – Masse’s winning bid meant an opportunity to turn over new business that hadn’t been changed since the inception of the family-owned dealership in 1991.
“Since becoming a GM Company, the GM Financial team recognized the mutual opportunity to build a stronger relationship with Paul, his team, and the group overall,” said Joe Buslow, SVP US Regional Sales and Credit Operations. “Much work, focus, and added support were a part of our local efforts to create increased dealer engagement and consideration to switch their floorplan.“
Paul Masse didn’t originally plan to change his long-term floorplan relationship. Then, with the procurement of his winning charity bid – GM Financial and Paul Masse both saw a window of opportunity to accelerate business.
Proving Captive Value
GM Financial captured Masse’s attention with our superior service and support, lease exclusivity, and available opportunities to help increase his business. GM Financial’s overall captive value became apparent, but breaking long-term relationships is difficult in an industry filled with competing priorities.
Building Blocks for Big Changes
It was then that the GM Financial team, including Buslow, Regional Sales Manager Marc Viola, Vice President Credit Center Operations George Hartman and his team, and Business Development Managers Shannon Doherty and John Summers of the Commercial Sales team, began working on the successful transformation of the Paul Masse floorplan from its original lender to GM Financial.
Buslow, Viola, and Hartman presented a three-pronged approach to show Masse the benefits of floorplanning with GM Financial:
- Identifying missed business opportunities. Using rough estimates, Buslow walked Paul Masse management through the various components of GM Financial programs and offerings, encouraging the dealer to take a deeper dive into their financials and view a side-by-side value proposition.
- Increasing retail business with Dealer Dividends. Viola discussed the Dealer Dividends program, a rewards program with enhanced benefits for floorplan dealers including lower benchmarks, 2x bonus on DPA and CCR, a 100% cash-out option, and more.
- Improving credit confidence. To build trust and confidence with the dealership Finance and Insurance team, Hartman illustrated the ease of business with GM Financial and confidence in our buying practices by showcasing our dedicated Credit Analyst team.
“We are very excited to be a part of the GM Financial team. As a loyal General Motors dealer with a large lease portfolio, we are very much looking forward to the future,” said Masse of his experience with GM Financial. “It was an honor to have Mary Barra and Alan Batey present for this very historic occasion and we look forward to growing our business with the help of GM Financial. It is a pleasure doing business with a team of professionals.”
Is your dealership missing valuable business opportunities? Are you getting maximum return out of the Dealer Dividends program? Reach out to your Dealer Account Representative today for more information on becoming a GM Financial floorplan dealer.