“This acquisition supports our efforts to design, build and sell the world’s best vehicles by expanding the financing options we can offer to consumers who want to buy GM vehicles,” said GM Chairman and Chief Executive Officer, Ed Whitacre. “Adding AmeriCredit to our team will improve our competitiveness in auto financing offerings, and I am very pleased to have them on board.”

The acquisition establishes the core of a new GM captive financing arm that will enable GM to provide customers with a more complete range of financing options, while creating significant growth opportunities for both GM and AmeriCredit. Since GM and AmeriCredit launched a successful non-prime program in September 2009, GM’s non-prime penetration has increased significantly.  Upon completion of the transaction, AmeriCredit intends to also re-enter the leasing business which will provide expanded leasing availability for all GM customers.

Direct ownership of AmeriCredit’s expertise will provide consistent availability of non-prime financing for GM customers throughout all economic cycles.  While AmeriCredit already has relationships with approximately 4,000 GM dealers, this transaction will enhance dealer receptivity and improve sales penetration rates through coordinated GM branding and targeted customer marketing initiatives.

“With AmeriCredit providing us niche capabilities in leasing and non-prime financing, along with the continued strong support of Ally Financial and others for prime retail and dealer financing, we’ve set up a very competitive solution for our financing needs, which will be resilient through credit and business cycles,” said GM Vice Chairman and Chief Financial Officer, Chris Liddell. 

With total assets of approximately $10 billion, the acquisition of AmeriCredit poses minimal impact to GM’s balance sheet, and does not change GM’s objective of achieving strong investment grade status.  Under GM ownership, AmeriCredit will maintain its own direct access to the capital markets for its financing requirements.

The transaction is expected to close by the end of the fourth quarter of 2010, pending certain closing conditions, including the approval of AmeriCredit shareholders.

The APEAL study examines how gratifying a new vehicle is to own and drive, based on owner evaluations of more than 80 vehicle attributes. The 2010 APEAL study is based on responses gathered between February and May 2010 from more than 76,000 purchasers and lessees of new 2010 model-year cars and trucks who were surveyed after the first 90 days of ownership.

Historically, vehicle models achieving high APEAL scores have been shown to generate faster sales, higher profit margins, and less need for cash incentives. High levels of vehicle appeal also have a strong influence on customer recommendation rates. Among the most highly satisfied owners (APEAL scores averaging 950 or higher), 97 percent say they “definitely will” recommend their vehicle.

Wednesday July 21, 2010 14:52 Jacqueline Howard
14:56
Roger McCormack:
Hi everyone! I’m glad to be here today to chat with all of you about Buick and the all-new Buick Regal.

Wednesday July 21, 2010 14:56 Roger McCormack
14:57
Roger McCormack:
Before we get started I want to make sure that I introduce the team I have with me. We have Bob Casparian, Regal Product Marketing Manager, Eric Dang, Regal Marketing Analyst (master of all Regal stats) and Chris Ayotte, Regal Marketing Manager.
Wednesday July 21, 2010 14:57 Roger McCormack
14:58
Roger McCormack:
Please feel free to shoot us your questions. We’re ready!

Wednesday July 21, 2010 14:58 Roger McCormack
14:58
[Comment From MrJones MrJones : ]
Why is the turbo being released months behind the base CXL when that engine has been sold in Europe for some time?
Wednesday July 21, 2010 14:58 MrJones
14:59
Roger McCormack:
Hi Mr Jones - Utilizing European powertrains requires engineering to federalize the engine for sale in the US. We’re very excited about the intro of the turbo later this year. We wanted to make sure that it was absolutely ready from the get go for our US customers.

Wednesday July 21, 2010 14:59 Roger McCormack
15:00
[Comment From Cozbyrt Cozbyrt : ]
I really like the new Buicks coming out. Any chance the new Regal GS might have AWD?
Wednesday July 21, 2010 15:00 Cozbyrt
15:02
Roger McCormack:
We know you guys have a ton of questions about the Regal GS. All we can tell you right now is that we are just as excited as you and that we are going to build it. But we can’t give you any additional product detail at this time. How important is all-wheel drive to you?
Wednesday July 21, 2010 15:02 Roger McCormack
15:02
[Comment From Ray Ray : ]
Any hints as to when we can expect the Regal GS to hit the road?
Wednesday July 21, 2010 15:02 Ray
15:02
Roger McCormack:
Hi Ray - Look for more details on the Regal GS later this fall. Stay tuned!!!
Wednesday July 21, 2010 15:02 Roger McCormack
15:03
[Comment From MrJones MrJones : ]
I presume that remote start isnt included since the Regal is based on Insignia. Any chance of that feature being added next year? After you have it you don’t want a car without that feature. I plan to test drive one this weekend.
Wednesday July 21, 2010 15:03 MrJones
15:04
Roger McCormack:
Mr. Jones - Yes, you are correct. We’re glad you love that feature and we plan to introduce it next year. Any other features you are looking for?
Wednesday July 21, 2010 15:04 Roger McCormack
15:05
[Comment From brian brian : ]
any chance of Buick coming out with a convertible?
Wednesday July 21, 2010 15:05 brian
15:06
Roger McCormack:
Hi Brian - We are always looking for ways to excite our customers…I think a convertible would do just that. Nothing to announce today but know we will look hard at a convertible option.
Wednesday July 21, 2010 15:06 Roger McCormack
15:07
[Comment From gary emmons gary emmons : ]
why is it taking so long to get the new regal to the showroom
Wednesday July 21, 2010 15:07 gary emmons
15:08
Roger McCormack:
Hi Gary - Regals are arriving in quantity right now. Make sure that you check with your local dealer of what they have in stock and what they have coming. It takes a little bit of extra time to travel across the pond.
Wednesday July 21, 2010 15:08 Roger McCormack
15:08
[Comment From jim motavalli jim motavalli : ]
What about any kind of hybrid or electric version of the Regal?
Wednesday July 21, 2010 15:08 jim motavalli
15:11
Roger McCormack:
Hi Jim - We are exploring all of the alternative propulsion systems that are appropriate for our customers. We know they are looking for performance as well as efficiency. We don’t have anything to announce today, but we’ll have more to talk about with Buick powertrains later this fall.
Wednesday July 21, 2010 15:11 Roger McCormack
15:12
[Comment From Mike Mike : ]
How are you differentiating the Regal and the Lacrosse in your marketing and advertising?
Wednesday July 21, 2010 15:12 Mike
15:13
Roger McCormack:
Hi Mike - The Regal has more of emphasis on dynamic performance and more of a focus on the driving experience. You’ll also see a lot more in the months to come online and on tv/radio.
Wednesday July 21, 2010 15:13 Roger McCormack
15:14
[Comment From Cozbyrt Cozbyrt : ]
I told my 14 year old daughter that I might get the Regal GS and she said “Buick, isn’t that for old people”? What do you think is the best way to change the mindset of the younger crowd or do you want to?
Wednesday July 21, 2010 15:14 Cozbyrt
15:16
Roger McCormack:
Hi there - We think getting them into our great new products is the way to change their minds. Hopefully, by taking a test drive…or checking the GS out at an auto show will show that Buick is worth taking a second look.
Wednesday July 21, 2010 15:16 Roger McCormack
15:16
[Comment From Ron B Ron B : ]
how about adding the opel 2.6 turbo engine to the lineup?
Wednesday July 21, 2010 15:16 Ron B
15:19
Roger McCormack:
Hi Ron - Sorry, we’ve had a flood of questions. Good question. We feel like we have a very strong powertrain line up today that includes a 30-mpg 2.4 liter and then we’ll be adding the turbo with the emphasis on performance. And, by the way this also gets around 29 mpg. We probably aren’t going to add a third powertrain but your suggestion is a good one. What do you see as the biggest benefit of adding the 2.8?
Wednesday July 21, 2010 15:19 Roger McCormack
15:19
[Comment From Erica M Erica M : ]
How many 2011 Regals have been sold?
Wednesday July 21, 2010 15:19 Erica M
15:20
Roger McCormack:
Hi Erica - We’ve sold our first 1,000, and as inventories continue to build at dealerships the rate has taken off.
Wednesday July 21, 2010 15:20 Roger McCormack
15:21
[Comment From Byron Byron : ]
and as a followup, do you think sales of the Regal will take a bite out of the Lacrosse units sold?
Wednesday July 21, 2010 15:21 Byron
15:23
Roger McCormack:
Hi Byron - Dealers are telling us two different cars, two different customers. Regal, as a new mid-size performance sport sedan, is broadening Buick’s reach to a brand new audience. We don’t have data in yet, but as I said we’re seeing a brand new customer.
Wednesday July 21, 2010 15:23 Roger McCormack
15:24
[Comment From Gary Gary : ]
Has a Coupe received consideraion?
Wednesday July 21, 2010 15:24 Gary
15:24
Roger McCormack:
Hi Gary - Yes, very strong consideration.
Wednesday July 21, 2010 15:24 Roger McCormack
15:25
[Comment From MrJones MrJones : ]
will there be any marketing centered around test drives like you did for Lacrosse?
Wednesday July 21, 2010 15:25 MrJones
15:26
Roger McCormack:
Hi Mr. Jones - You’re likely to see test drive programs from us in the near future. We think people fall in love with our products especially after they’ve driven them.
Wednesday July 21, 2010 15:26 Roger McCormack
15:27
[Comment From brian brian : ]
where does the name Buick originate from and if it is a family name, any descendants still around? just curious.
Wednesday July 21, 2010 15:27 brian
15:27
Roger McCormack:
Hi Brian - It comes from David Dunbar Buick who is the founder of Buick Motors. Larry Gustin has a great book out on Buick history if you are interested.
Wednesday July 21, 2010 15:27 Roger McCormack
15:28
[Comment From Ghrankenstein Ghrankenstein : ]
Will the Regal have a handbrake, which I prefer, or the electronic emergency brake?
Wednesday July 21, 2010 15:28 Ghrankenstein
15:28
Roger McCormack:
Hi there - It has the electric park brake.
Wednesday July 21, 2010 15:28 Roger McCormack
15:29
[Comment From Meredith Meredith : ]
Why no portholes on the Regal?
Wednesday July 21, 2010 15:29 Meredith
15:31
Roger McCormack:
Hi Meredith - Interesting that you know that portholes are a key Buick styling element! We think you’ll note that every Buick has a strong family resemblance but not every Buick will have every design cue.
Wednesday July 21, 2010 15:31 Roger McCormack
15:31
[Comment From jack jack : ]
will you discontinue lucerne ? will lacrosse be top buick? regal #2
Wednesday July 21, 2010 15:31 jack
15:32
Roger McCormack:
Hi Jack - The Lucerne continues to be a key part of the Buick portfolio selling to a loyal, important Buick customer.
Wednesday July 21, 2010 15:32 Roger McCormack
15:33
[Comment From Joe Joe : ]
It has been reported a smaller crossover is coming. When will see that in showrooms?
Wednesday July 21, 2010 15:33 Joe
15:34
Roger McCormack:
Hi Joe - We will add a future small crossover to our portfolio in the next couple of years. We have not announced any details on timing.
Wednesday July 21, 2010 15:34 Roger McCormack
15:34
[Comment From MrJones MrJones : ]
is the manual still planned for the Regal 2.0T?
Wednesday July 21, 2010 15:34 MrJones
15:34
Roger McCormack:
YES! Absolutely we can’t wait.
Wednesday July 21, 2010 15:34 Roger McCormack
15:35
[Comment From Surfer Surfer : ]
LExus, Infiniti, and Volvo all have convertibles, and earlier you said “we will look at a convertible.” Any chance of us getting the Opel convertible they sell overseas and make it a Buick?
Wednesday July 21, 2010 15:35 Surfer
15:36
Roger McCormack:
Hi there - As we mentioned, we are looking at all options…a coupe, convertible, a wagon, a retractable hardtop and more…we don’t know right now which direction we’ll go. We think the Buick brand can stretch in a lot of directions. What’s your choice?
Wednesday July 21, 2010 15:36 Roger McCormack
15:37
[Comment From Ron B Ron B : ]
I’m glad you are covering AWD and the coupe option. I own 4 GM products currently and hope to test drive a GS and hopefully a “higher” model down the road.
Wednesday July 21, 2010 15:37 Ron B
15:37
Roger McCormack:
We can’t wait for you to test drive one too, Ron.
Wednesday July 21, 2010 15:37 Roger McCormack
15:39
[Comment From Allie Allie : ]
What can you tell us about the Buick Verano?
Wednesday July 21, 2010 15:39 Allie
15:41
Roger McCormack:
Hi Allie - We haven’t announced any future product names. Sorry that’s all I can say right now.
Wednesday July 21, 2010 15:41 Roger McCormack
15:41
[Comment From R R : ]
Loved the name Invicta on that concept car. Will that name be used for anything?
Wednesday July 21, 2010 15:41 R
15:42
Roger McCormack:
We love the name Invicta as well. And, we’ll add it to the list of names we’ll consider in the future.
Wednesday July 21, 2010 15:42 Roger McCormack
15:42
[Comment From MrJones MrJones : ]
Will we have to wait until the LA auto show for more details on the GS?
Wednesday July 21, 2010 15:42 MrJones
15:42
Roger McCormack:
Nope.
Wednesday July 21, 2010 15:42 Roger McCormack
15:43
[Comment From surfer surfer : ]
Convertible!!!! In Southern California there are so many awesome Buick convertibles but they are 40 years old.
Wednesday July 21, 2010 15:43 surfer
15:44
Roger McCormack:
We’re looking at all types of body styles that you have told us meet the needs of our customers. Can’t say right nowwhich ones will come to market but again, we’re listening.
Wednesday July 21, 2010 15:44 Roger McCormack
15:44
[Comment From Meredith Meredith : ]
Will there be a new Buick unveiled at the Detroit auto show?
Wednesday July 21, 2010 15:44 Meredith
15:45
Roger McCormack:
Auto shows are a great way to bring out new products. Stay tuned to all the major auto shows next year.
Wednesday July 21, 2010 15:45 Roger McCormack
15:46
[Comment From Gary Gary : ]
Riveria was one of the iconic Buick models of all time. Needs to be back in the mix.
Wednesday July 21, 2010 15:46 Gary
15:47
Roger McCormack:
Hi Gary - Buick has extremely strong heritage and we love the iconic models as well.
Wednesday July 21, 2010 15:47 Roger McCormack
15:47
[Comment From Joe Joe : ]
Can you tell us about the car that was shown to the woman in the USA Today article? She said it looked like an Enclave.
Wednesday July 21, 2010 15:47 Joe
15:48
Roger McCormack:
Hi Joe - It’s a future small crossover that we will add in the next couple of years. Stay tuned.
Wednesday July 21, 2010 15:48 Roger McCormack
15:48
Roger McCormack:
We have time for a couple more questions…we have about 10 more minutes.
Wednesday July 21, 2010 15:48 Roger McCormack
15:49
[Comment From jack jack : ]
where? when will regal be assembled in n a ?
Wednesday July 21, 2010 15:49 jack
15:50
Roger McCormack:
Hi Jack - In the first quarter of 2011 the Regal will start to be built at the Oshawa Assembly Center in Ontario.
Wednesday July 21, 2010 15:50 Roger McCormack
15:50
[Comment From Gary Gary : ]
Please covey to the management that we love these chats and it seemed that this site had been forgotten by GM for weeks. This is a great forum for GM to hear what we enthusiasts are thinking about….and we would rather hear correct information from prsons such as you as opposed to blog sites. Thank you for your “time-out” to do this.
Wednesday July 21, 2010 15:50 Gary
15:51
Roger McCormack:
You’re welcome Gary. We love hearing from you. It is our pleasure. P.S….if you want to chat with us on a daily basis go to www.facebook.com/buick. We’re always monitoring and answering questions.
Wednesday July 21, 2010 15:51 Roger McCormack
15:51
[Comment From Meredith Meredith : ]
Any chance of broadening the color selection? Would love to see a nice light silvery blue.
Wednesday July 21, 2010 15:51 Meredith
15:51
Roger McCormack:
Yes, more colors coming before the end of the year!
Wednesday July 21, 2010 15:51 Roger McCormack
15:53
[Comment From Cary Cary : ]
I have an Audi A4 convertible that has been problematic, so I would consider a Buick. Will it be hardtop of softtop?
Wednesday July 21, 2010 15:53 Cary
15:53
Roger McCormack:
Cary - Appreciate your enthusiasm but again we haven’t confirmed any additional body styles. Would love to have you as a Buick customer.
Wednesday July 21, 2010 15:53 Roger McCormack
15:54
[Comment From B B : ]
Would Buick let buyeers pick the name of the next model by doing a contest on the website?
Wednesday July 21, 2010 15:54 B
15:55
Roger McCormack:
Your input is extremely important to us and we take it very seriously. That’s a creative idea.
Wednesday July 21, 2010 15:55 Roger McCormack
15:55
[Comment From joe joe : ]
What is the average age of Enclave owners. I see moms driving themm everywhere?
Wednesday July 21, 2010 15:55 joe
15:57
Roger McCormack:
Hi Joe - The average age of Enclave buyers is in the 50’s….just so you know the average age of a car buyer in the US is 54. And, we also find an increasing number of buyers (more than 50%) coming from competitive models.
Wednesday July 21, 2010 15:57 Roger McCormack
15:58
Roger McCormack:
Last question…
Wednesday July 21, 2010 15:58 Roger McCormack
15:59
[Comment From Byron Byron : ]
I find that many Buick enthusiasts look to the past rather than the future. Why do you think so many embrace the past, but not the present or future of Buick?
Wednesday July 21, 2010 15:59 Byron
16:01
Roger McCormack:
Hi Byron - They look to the past because we were an iconic brand with a strong history of great cars. We believe that the vehicles we are building and selling today live up to that strong heritage. We’re looking forward to a very bright future.
Wednesday July 21, 2010 16:01 Roger McCormack
16:02
Roger McCormack:
Thanks to all of you for chatting with us today. There were a lot of great questions. If you want to continue the conversation….check us out at www.facebook.com/buick. Have a great afternoon!