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News and Information about bm

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GM aims to boost resale values of its models and save $200 Million each year

General Motors aims to boost the resale values of its models in hopes of increasing its profit margins and attaining savings of up to $200 million each year. GM wants to continue to narrow the gap with rivals who don’t need to spend the same amount to provide lease deals. ALG Inc., the company that sets resale values, said that what’s referred to as residual values increased to 44% from being at a 36.5% level in 2009 when the automaker experienced a bankruptcy reorganization.

Because of higher residuals, automakers are able to offer lower monthly lease payments since the cost is based on the projected resale value when the contract ends.

On March 27 at a Bank of America Corp. forum in New York, Chuck Stevens, chief financial officer for GM North America, told analysts that GM's lower resale values relative to competitors mean that the automaker uses up $150 million to $200 million more each year to make its lease payments competitive. Stevens said that the key is in having “great products and pricing and incentive discipline.”

Read the entire article GM aims to boost resale values of its models and save $200 Million each year

BMW Financial grabs two top spots in 2012 JD Power Dealer Survey

Dealers are more satisfied with the lending services offered by BMW Financial Services than with those provided by Mercedes-Benz Financial Services, according to J.D. Power and Associates’ 2012 U.S. Dealer Financing Satisfaction Study. BMW Financial gained the top ranking in both the prime retail credit and retail leasing segments of the study while Mercedes-Benz Financial lorded over the floor-planning category of the study.

According to J.D. Power, dealer satisfaction with automotive lenders improved across all areas. Overall dealer satisfaction with prime retail credit lenders soared 23 index points from the 2011 survey to average 885 (out of 1,000 possible points) this year.

Dealer satisfaction with retail leasing, meanwhile jumped 14 points, to 891. Alphera Financial Services, a sister unit of BMW Financial that arranges loans for non-BMW cars, grabbed the second place in prime retail credit segment, followed by Mercedes-Benz Financial. In the retail leasing segment, Mercedes-Benz financial was No. 2, with Ford Credit sneaking at third place. In the 2011 version of the U.S. Dealer Financing Satisfaction Study, Mercedes and BMW tied for first in the prime retail credit segment. Mercedes, however, routed BMW in the retail leasing and floor-planning segments.

Read the entire article BMW Financial grabs two top spots in 2012 JD Power Dealer Survey

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