Come August 23, GMAC's auto lending business will be brought under the Ally Financial banner. While GMAC had already rebranded its other financial divisions, the auto business still went by GMAC. The move continues GMAC's distancing itself from its General Motors mothership, and if we read more into it, this could make it even clearer that Ally has no interest in returning to majority ownership by the automaker (GM still maintains a small stake in the company post-bankruptcy).
In its announcement, GMAC said it would continue to finance GM, Chrysler, Saab and Thor Industries buses and RVs, and that the name change would allow "the company to invest in a brand it owns while continuing to grow" the business of "serving dealers and their customers." As long as those customers aren't subprime, at least.
[Source: GMAC]
In its announcement, GMAC said it would continue to finance GM, Chrysler, Saab and Thor Industries buses and RVs, and that the name change would allow "the company to invest in a brand it owns while continuing to grow" the business of "serving dealers and their customers." As long as those customers aren't subprime, at least.
[Source: GMAC]
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