"The move to the Ally name allows us to invest in a brand that we own and can build upon for the long term," Ally president Bill Muir said in a statement. "An ally is someone you rely on to support you, and our new brand embodies our 90-year heritage as a trusted finance source for the automotive industry."
"While our name has changed, our primary focus and core business continues to be automotive financial services," said Muir. "Our dealer customers and auto partners can count on our ongoing commitment to their success."
GMAC announced it will change its name to Ally Financial back in May, as a way to further emphasize the differences between the unprofitable GMAC and the reborn, 2010 GMAC.
Ally will handle all auto financing operations in the aforementioned markets for GM, Chrysler, Saab, Thor Industries and Fiat Mexico. The reborn company promises to simplify consumer materials and online services, enhance the customer service process and ease the payment calculation process.
All GMAC operations will be passed over to Ally on August 23. Mexico and Canada will adopt the Ally Credit name on August 16 and 23, respectively. Customers will not be affected by the change, while operations outside North America will continue to be carried out under the GMAC name.
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