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JIM HENRY

GM Financial-Chevy lease exclusivity seems likely

Jim Henry is a special correspondent for Automotive News.

There wasn’t much doubt, but General Motors disclosed for the first time in an SEC filing on Feb. 4 that it is considering plans to throw all Chevrolet lease incentives to GM Financial instead of sharing them among GM Financial, Ally Financial and U.S. Bank.

GM Financial became GM’s exclusive preferred lease lender for the Buick and GMC brands this month and will take over those duties for Cadillac in March.

Officially, GM has avoided saying whether Chevrolet will be next. Dealers told Automotive News they expected that to be the case, once GM Financial proved itself with Buick, GMC and Cadillac.

In its 2014 annual report filed with the SEC, GM still stops short of confirming outright that GM Financial will get Chevrolet’s lease incentives, too. “U.S. lease exclusivity with Chevrolet dealers is under consideration,” the company said.

But in a conference call on the date of the filing, GM Financial CEO Dan Berce, without referring to specific brands, said GM Financial is “completely ready for lease exclusivity in 2015.”

You can reach Jim Henry at autonews@autonews.com

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