GM Financial Leads Among Captive Lenders in Manufacturer Loyalty
By Lori Tutt / 12/07/2017 / Investor News
FORT WORTH, TEXAS – GENERAL MOTORS FINANCIAL COMPANY, INC. (“GM Financial” or the “Company”), today announced that the company was the leader in overall manufacturer loyalty among captive automotive lenders for calendar year 2016, based on GM Financial analysis of IHS Markit new light vehicle registration data for 2016. Manufacturer loyalty in this case is defined as households who return to market from a captive OEM-leased or -purchased vehicle and remain loyal to the same manufacturer. This data is based on disposal methodology and IHS Markit segmentation in the U.S.
GM Financial had the highest manufacturer loyalty rate for returning lessees in the 2016 calendar year, where 79.2 percent of current lease customers remained in a GM vehicle. In that same time period, vehicle owners who financed their purchase through GM Financial remained loyal to General Motors at a rate of 67.3 percent, the highest manufacturer loyalty rate among manufacturer-owned lenders.
“Customer retention and loyalty are essential priorities in our overall effort to drive and support GM vehicle sales,” said Dan Berce, President and CEO at GM Financial. “We are committed to putting customers at the center of everything we do, and we are proud of our success in providing an exceptional customer experience at every step in the auto finance process. Perhaps more importantly, our status as the captive finance arm for General Motors – which possesses industry-leading customer loyalty in its own right – helps strengthen the overall GM value proposition for our dealers and customers.”
General Motors was honored with an IHS Markit automotive loyalty award for “Overall Loyalty to Manufacturer” for the 2016 model year in January 2017.
About GM Financial
General Motors Financial Company, Inc. is the wholly-owned captive finance subsidiary of General Motors Company and is headquartered in Fort Worth, Texas. For more information, visit www.gmfinancial.com.
Contact:
Lane Borrello, GM Financial
Office: (817) 302-7525
Lane.Borrello@gmfinancial.com
By Lori Tutt, GM Financial
From cars and movies to great works of literature, Lori Tutt has a passion for the classics. She’s never claimed to be good with numbers but can readily find the right words to describe money matters like budgets, investments and understanding credit. And when she’s stressed, she turns it around with desserts (or clever wordplay).
Related Articles
GM Financial Names New Chief Experience Officer, Chief Digital Officer, Chief Information Officer
GM Financial announced three changes to its executive leadership team, introducing Mike Urrutia as Chief Experience Officer, Kelly Wyatt as Chief Digital Officer and Chitra Herle as Chief Information Officer.
SEE WHO
GM Financial Names Susan Sheffield As Chief Financial Officer
GENERAL MOTORS FINANCIAL COMPANY, INC. recently named Susan Sheffield as its new Chief Financial Officer, succeeding 27-year company veteran, Chris Choate, who announced his retirement in February
Read More