“Our mandate's not going to change much initially,” he said at the Royal Media Auto Finance Summit in Las Vegas this month.
I had assumed there would be big changes almost immediately. For example, GM Financial is expected to launch factory-supported leasing in early 2011 -- a huge change.
But Berce said GM Financial will stick largely to subprime and GM will continue to rely on Ally Financial Inc. Berce said GM Financial also will keep servicing non-GM dealerships, which make up two-thirds of his dealer customers.
“I don't think there's any vision for GM Financial to become what GMAC once was for General Motors,” he said.
Funny, that's just what I expected to happen.