2023 Author: Eric Donovan | [email protected]. Last modified: 2023-08-25 09:36
Anyone who buys a car from GM in the USA will soon be able to lease and finance it again through their own financier. The Opel parent company has acquired the car financer AmeriCredit.
Opel parent General Motors will soon be offering its customers loans and leasing from their own premises again. The US auto company is taking over the independent auto financier AmeriCredit for $ 3.5 billion. The acquisition "extends the financing options that we can offer customers," said GM boss Ed Whitacre on Thursday.
Boost leasing business
General Motors (GM) wants to use AmeriCredit to boost the leasing business, which is not very widespread in the USA, and also to serve customers who find it difficult to finance their car on credit due to poor creditworthiness. “They are currently buying used cars,” said CFO Chris Liddell on “Bloomberg TV”. Nothing will change in Germany for the time being. "The takeover has no impact on Opel customers," said a spokesman for Rüsselsheim. The dealers in this country work together on loans and leasing with the former GM finance subsidiary GMAC, which has now been renamed Ally Financial.
GM had sold the majority to GMAC in 2006 in order to get some cash into the tight fund. Both companies got into existential need during the economic crisis and had to be rescued by the American taxpayer. In the meantime, however, the situation has eased. Car sales are picking up again and with them the need for cheap financing.
In addition to Opel, GMAC still finances a good part of the Chevrolets, Cadillacs, Buicks and GMCs around the world. Many US dealers have also been working with AmeriCredit for a long time. In the past few months, there had been repeated speculation that GM might buy back GMAC. The cooperation with the ex-subsidiary will also continue in the USA.
A separate finance division makes GM more attractive for the upcoming IPO at the end of the year. Almost all of the competitors have in-house car financiers. One exception is the domestic rival Chrysler, which also uses GMAC. The US government had to save Chrysler too. AmeriCredit's management has already approved the takeover, and now the shareholders have to give up their shares. GM is luring them in at $ 24.50 a share - 24 percent more than Wednesday's closing price. The takeover should be finalized in the fourth quarter. (dpa)
Recommended:
Dongle: This Also Turns Older Cars Into Smart Cars
No new car can do without extensive networking. But what about older vehicles? Can they also become a smart car?
One Billion Funding For Electric Cars
The federal government wants to promote the development of electric vehicles in the next two years. Purchase bonuses as incentives will continue to exist
No Funding For Electric Cars Before
Buyers of electric vehicles can come with tax subsidies in 2013 at the earliest. Only then will the first electric cars be made by Germans
Funding For Electric Cars Is A Long Time Coming
The federal government has not yet made a decision on incentives for electric cars. Among other things, a purchase bonus of 5000 euros is available
VW Cars Are Selling More Cars Again
Despite the diesel scandal, the VW core brand was able to maintain its sales level in the first half of the year. Thanks to the strongest single market, the Wolfsburg
