STAMFORD, Conn. and CYPRESS, Calf. –– June 6, 2012 –– GE Capital Retail Bank and Yamaha Motor Corporation USA today announced a multi-year renewal of their installment lending program. GE Capital’s Retail Finance business, the operating entity that provides financial solutions to retailers and dealers to help grow their customer sales, will continue to manage the Yamaha relationship and service the account.
Since the Yamaha program began in 2004, more than $2 billion dollars in new and pre-owned powersports equipment has been financed. The program is available through 1,700 Yamaha motorsports, watercraft and marine dealerships in the United States, and for purchases of vehicles, parts, garments and accessories.
“Financing is an integral part of the powersports business and customer satisfaction,” explained Stephen Motta, general manager, Payment Solutions, for GE Capital’s Retail Finance business. “Our research indicates that consumers spend an average of 76 days* researching a major purchase, and that financing is an important factor in their decision process.”
Founded in 1955, Yamaha Motor Corporation USA is one of the world’s leading manufacturers of motorcycles, ATVs, side-by-sides, personal watercraft and sport boats.
“GE Capital has been a great program manager for Yamaha Motor Corporation USA,” said Cliff Franzen, assistant division manager, Retail Finance, for Yamaha. “They understand our business and provide a high level of customer and retailer support. We’re happy to continue this relationship.”
For more than 75 years, GE Capital’s Retail Finance business has provided billions of dollars in consumer financing through major retailers and more than 200,000 small- and mid-sized businesses throughout the United States. GE Capital has been a leading provider of consumer credit in the powersports industry for nearly 30 years. The company supports its clients with proprietary online technology such as Business Center, which includes service, marketing and sales tools, as well as the newly launched Learning Center, providing businesses with fast and easy access to training tools and resources on how to better understand and offer financing to consumers.
*The GE Capital Retail Finance Annual Major Purchase Shopper Study
About Yamaha Motor Corporation USA
The Yamaha Motor Corporation, Ltd., began in 1955 and is a major part of the entire Yamaha group, and is a separately managed business entity from the Yamaha Corporation. The Yamaha Motor Corporation is the second largest manufacturer of motorcycles in the world. Yamaha Motor Corporation owns its wholly-owned subsidiary in the U.S. called Yamaha Motor Corporation, USA, that is handling not only motorcycles, but also snow mobiles, golf carts, outboard engines, and water vehicles, under the brand name of Yamaha as well.
About GE Capital’s Retail Finance business
GE Capital’s Retail Finance business is among the country’s most successful retail lenders, with more than 75 years of experience in consumer financing. The business, which originates loans as a unit of GE Capital Retail Bank, provides customized credit programs to retailers and consumers in the United States and Canada that help drive sales. This includes private label and bankcard credit programs to major national, regional and independent retailers in the U.S., as well as private label credit programs, promotional and installment lending, bankcards and financial services for consumers through dealers; contractors; manufacturers; healthcare practices; and service providers across nearly 20 industries. More information can be found at www.gogecapital.com and twitter.com/GoGECapital.
GE Capital is one of the world’s largest providers of credit. For over one million businesses, large and small, GE Capital provides financing to purchase, lease and distribute equipment, as well as capital for real estate and corporate acquisitions, refinancings and restructurings. For our 100+ million consumer customers, GE Capital offers credit cards, sales finance programs, home, car and personal loans and credit insurance. For more information, visit www.gecapital.com or follow company news via Twitter @GECapital.
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.