GE Capital Retail Bank, an operating unit of the General Electric Company (GE - Analyst Report), recently penned a new contract to extend the consumer financing program of KTM North America, Inc., a Powersports vehicle manufacturer. The multi-year extension entails KTM customers to avail installment financing program at over 340 dealers nationwide for its complete line of new and used on- and off-road vehicles.
KTM has a long-standing business association with GE Capital Retail Bank, spanning more than a decade, whereby its customers could finance the unit purchase along with its parts, services and accessories. The extension of the existing contract strengths the mutual relationships and reinforces GE Capital Retail Bank as the premier financial solutions provider for retailers and dealers.
Over the years, GE Capital Retail Bank has provided a plethora of customized credit programs to retailers and consumers in the Powersports industry in the U.S. and Canada to augment sales. At the same time, it supported the client and dealer networks with access to proprietary online technology such as Business Center, which provided valuable insights to General Electric’s marketing and sales tools; and Learning Center, which offered a comprehensive training tool for powersport dealerships.
General Electric is one of the largest and the most diversified technology and financial services corporations in the world. With products and services ranging from aircraft engines, power generation, water processing, and security technology to medical imaging, business and consumer financing, media content and industrial products, the company serves customers in more than 100 countries and employs more than 287,000 people worldwide.
Its segments include Energy Infrastructure, Aviation, Healthcare, Transportation, Home & Business Solutions and GE Capital, Healthcare Financial Services. With more than 75 years of experience in consumer financing, GE Capital’s Retail Finance business is one of the most successful retail lenders in the U.S.
General Electric currently has a Zacks Rank #3 (Hold). We have a long-term Neutral recommendation on the stock. We also have a Neutral recommendation and a Zacks Rank #3 for 3M Company (MMM - Analyst Report), one of the peers of General Electric.