The Traderszone Network

Published in TZ Latest News 19 February, 2015 by The TZ Newswire Staff

Exclusive: Ally assumes it will lose entire GM leasing business – CEO

Ally Financial Inc (ALLY.N) is taking steps to replace its remaining exclusive leasing deals with General Motors Co (GM.N), betting that the largest U.S. carmaker will eventually finish taking that business in-house, the auto lender’s chief executive said in an interview. GM has already said that its financing arm, GM Financial, would replace Ally as the exclusive lessor for Buick, GMC and Cadillac vehicles. Ally expects GM Financial to eventually take over leasing for Chevrolet as well, Ally Chief Executive Jeffrey Brown told Reuters on Thursday.

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