SHANGHAI, Nov. 7, 2011 /PRNewswire/ -- SGM-Wuling has selected GMAC-SAIC as official preferred financing provider for its new passenger vehicle brand Baojun in China. GMAC-SAIC will provide wholesale financing for Baojun dealers and retail financing for customers.
"The cooperation with GMAC-SAIC will help dealers to fund their inventory, while giving Baojun customers the opportunity to obtain retail financing through an experienced and trusted financing source in the industry," said Mr. Wen Hong, marketing and business development director of passenger vehicles, SGM-Wuling.
"We are extremely pleased to enter this new relationship with Baojun and look forward to working with Baojun supporting its dealership network expansion," said Rick Livingood, GMAC-SAIC general manager. "This relationship will also help to further diversify and enlarge our customer base in China."
GMAC-SAIC and Baojun have entered into a multi-year agreement for the preferred financial provider services.
As the first and largest auto finance company in China, GMAC-SAIC provides retail finance to a number of local and international brands in China and is the preferred wholesale financing provider for all Shanghai GM brands.
Baojun is a brand new passenger vehicle launched by SGM-Wuling in July, 2010. It is a self-owned brand that has combined technology, experience and local production advantages of the JV, with a dedicated dealership network; it is also a brand to provide Chinese consumers with international standard quality, reliability and reasonable pricing. The Baojun brand is positioned as a "reliable partner," a brand spirit of "positive, prudent, smart," which aims to provide consumers with products that are "valuable and proud to own."