KETTERING, OHIO and MURRIETA, CALIF. November 16, 2009 GE Money, the consumer lending unit of General Electric Company (NYSE:GE
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), and leading powersports vehicle manufacturer KTM North America, Inc. today announced a multi-year extension of their consumer financing agreement, originally established in 2002. The KTM installment program, managed by GE Money's Sales Finance unit, provides powersports enthusiasts a flexible, convenient way to finance KTM vehicles with affordable monthly payments and competitive interest rates. GE Money provides billions of dollars of consumer financing through more than 145,000 small and medium businesses on Main Streets across the United States.
"With the economic struggles our industry has seen, a solid retail finance offer is more important than ever," said Jon-Erik Burleson, president for KTM North America. "We are focused on a partnership that brings competitive financing offers to customers interested in buying a KTM."
As part of the renewal, KTM dealers will use GE Money's Web-based finance management portal, Business Center. Business Center provides dealers with an easy, secure way to manage their credit programs and better serve their customers. Thousands of small businesses use GE Money's Business Center to securely access all the sales, operational, marketing and training tools they need at the click of a button.
"We're pleased to continue working with KTM by providing an installment financing program that supports the needs of their dealer network in the United States," said Stephen Motta, vice president of GE Money Sales Finance. "This financing program offers riders the ability to experience the excitement and performance of the KTM brand, together with the comfort of a monthly payment that is fixed for the life of their loan."
About KTM Power Sports
Founded in 1953 in Mattighofen, Austria, KTM Power Sports has over 375 dealers across the United States with its main headquarters in Murrieta, CA. KTM Power Sports AG is a worldwide leading manufacturer of power sports vehicles. The operational core company, KTM-Sportmotorcycle AG, develops and manufactures competition off-road and street motorcycles. KTM-Sportcar GmbH builds the light-weight sports car X-Bow, KTM's first step into the automotive field. For more information, visit www.ktm.com.
About GE Money
GE Money, a unit of General Electric Company, (NYSE: GE) offers a range of financial products, including private label credit cards, personal loans, and bankcards. More information can be found at www.gemoney.com. GE Money's Sales Finance unit, based in Kettering, Ohio, provides private label credit card programs and financial services for consumers through dealers; national, regional and independent retailers; associations; contractors; manufacturers; healthcare practices; and service providers in nearly 20 industries including: automotive, consumer electronics and appliances, elective health care, floor covering, home design and improvement, home furnishings, jewelry, music, powersports, outdoor power equipment and sporting goods.
GE (NYSE: GE) is a diversified global infrastructure, finance and media company that is built to meet essential world needs. From energy, water, transportation and health to access to money and information, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. GE is Imagination at Work. For more information, visit the company's Web site at www.ge.com.