Shanghai – GMAC-SAIC, the largest auto finance company in China, received the “Golden Engine Award” as “Best Automotive Finance Company” for the second year in a row. The Award by business magazine Money Weekly honors outstanding companies and services in the Chinese automotive industry.

GMAC-SAIC also won an award for the second consecutive time for one of its financing products called “Young Plan,” a flexible financing option designed for the developing generation of first time car buyers. This popular product was originally offered only for Chevrolet, but has been adopted for Buick vehicles recently as well.

“We are proud about this recognition for the GMAC-SAIC team,” said Rick Livingood, GMAC-SAIC general manager. “It inspires us to continue setting high standards and to support the Chinese auto industry’s development with innovative products.”

About GMAC-SAIC

GMAC-SAIC Automotive Finance Co., Ltd. is a joint venture between Ally Financial Inc. (formerly GMAC Inc.), Shanghai Automotive Group Finance Co., Ltd. (SAICFC) and Shanghai General Motors Corp. Ltd. (Shanghai GM).  Ally Financial Inc. is one of the world’s largest automotive financial services companies and offers a full suite of automotive financing products and services in key markets around the globe. SAICFC, a subsidiary of Shanghai Automotive Industry Corp. Group, is one of China’s most successful non-banking finance companies. Shanghai GM is a joint venture established by General Motors Corp. and Shanghai Automotive Industry Corp. Group (SAIC), a leading passenger car manufacturer in China.