GM Financial to Debut Non-Prime Lending in Canada
During a conference call with investors discussing its fourth quarter earnings results last week, GM Financial tipped its hand on some upcoming plans it has for Canada.
While declining Auto Remarketing Canada’s request for specifics, the lender said it will start offering General Motors dealers non-prime lending in Canada later this year.
“We are poised to launch our commercial lending suite of products in April and will then turn our attention to rounding out our Canadian product offerings with the rollout of a non-prime loan program in Canada for GM dealers later in 2012,” GM Financial president and chief executive officer Dan Berce said late in the Feb. 16 call.
When Auto Remarketing Canada asked for more details about the non-prime program, senior vice president of investor relations and corporate communication Caitlin DeYoung explained that the company was “not ready to provide any at this time.”
Stay tuned to Auto Remarketing and our sister publication SubPrime Auto Finance News for more details as they develop.
To read the story about GM Financial’s overall fourth-quarter results, visit http://www.subprimenews.com/spn/news/story.html?id=2197.