GMAC-SAIC Automotive Finance Co., a joint venture in China between Ally Financial Inc. and Shanghai Automotive Group Finance Co., said Tuesday it booked a monthly record of 18,000 new retail contracts in August.
GMAC-SAIC has signed more than 190,000 loan contracts in the first eight months of this year, surpassing its 2009 total.
GMAC-SAIC, which opened in 2004, was the first approved and operational automotive finance company in China. It primarily serves General Motors' Buick, Chevrolet and Cadillac brands and also supports SAIC-GM's Wuling brand.
