BIRMINGHAM, England — MG Motor recently tapped GMAC UK, a subsidiary of Ally Financial, to be its preferred wholesale financing provider for dealerships.

Officials highlighted this development expands on the existing preferred retail financing relationship between the two companies established last year.

MG dealers can obtain wholesale financing from GMAC for new, demonstrator and used vehicle inventory.

Meanwhile, the GMAC sales team is making contact with dealers to introduce the wholesale financing program.

GMAC UK became the preferred retail finance provider for MG Motor customers last October. It is also the preferred finance provider for Vauxhall, Chevrolet and SsangYong Motors UK.

MG Motor UK sales and marketing director Guy Jones explained, "We chose GMAC as our preferred provider for wholesale and retail financing following a rigorous selection process. 

"GMAC has demonstrated its leadership in the market with attractive financing offerings and high levels of service," Jones continued. "The relationship with GMAC will be very beneficial as we seek to broaden our product line and increase sales in the U.K."

GMAC UK managing director Ed Paulat added, "Following a successful initial cooperation for retail financing, it is a logical step to add a competitive wholesale financing program for MG dealers.

"We are a full-service provider and see the potential as the MG brand expands in the UK. market," Paulat went on to say.

Last month, GMAC was recognized as the Best Auto Finance Company 2012 by the Institute for Transport Management, based on an independent pan-European survey of manufacturers, dealers and customers.