GE Launches New Consumer Financing Program with Thunder Mountain Custom Cycles
ST. PAUL, Minn.--June 12, 2006--GE Consumer Finance's Retail Sales Finance unit today announced a new multi-year agreement with Thunder Mountain Custom Cycles to provide revolving and installment consumer financing programs for the Colorado-based company's dealers across the United States.Thunder Mountain Custom Cycles are sold exclusively at preferred Harley-Davidson(R) dealerships throughout the country. Thunder Mountain customers can now take advantage of GE Consumer Finance's industry-wide FUNancing consumer finance program.
New motorcycle sales were a $9 billion industry in 2005, and the Motorcycle Industry Council reports U.S. motorcycle sales are up for the thirteenth year in a row. Analysts say explosive growth in the custom cycle sector in recent years has contributed to the overall trend.
"The custom motorcycle segment is fueling a big part of the motorcycle industry's growth," according to Greg Pierce, vice president of GE Consumer Finance's Powersports division. "Thunder Mountain has taken a unique and smart approach to custom cycles and we look forward to helping their dealers grow their sales even more."
Over the past 25 years, GE Consumer Finance's Powersports division has been an industry leader, providing financing to nearly half a million outdoor enthusiasts who enjoy riding motorcycles, all terrain vehicles (ATVs), snowmobiles, small watercraft, and trikes. Several thousand powersports dealers and manufacturers nationwide offer GE financing to their customers.
"As our business evolves, offering our customers financing options has become a priority," said Todd Erdman, Thunder Mountain Custom Cycles. "GE's industry knowledge and experience with manufacturers, dealers and motorcycle riders, combined with the scale, choice and promotional options of the FUNancing program, can take us to the next level."
Thunder Mountain began its production of top-of-the-line motorcycles in 1999, appealing to motorcycle enthusiasts from all over the U.S. The company now has a network of more than 70 premier dealerships in North America, which sell five main lines of cycles.
About Thunder Mountain Custom Cycles
Thunder Mountain Custom Cycles, hand-crafted in Fort Collins, Colo., are sold exclusively at preferred Harley-Davidson(R) Dealerships throughout the country. The company expects to produce more than 1,400 bikes this year alone. One-of-a-kind paint jobs rendered by the most gifted painters in the industry bring a unique style to each custom bike. Polished and perfected, no two Thunder Mountain Custom Cycles are alike. For more information, go to www.tmccycles.com.
About Retail Sales Finance and GE Consumer Finance
Retail Sales Finance, based in Kettering, Ohio, is part of GE Consumer Finance and provides private label credit card programs, marketing, installment lending and financial services for national and regional retailers in key industries: powersports, home improvement, outdoor equipment, automotive/recreational vehicles, consumer electronics and appliances, furniture, floor covering, jewelry, and health care. With $163 billion in assets, GE Consumer Finance, a unit of General Electric Company , is a leading provider of credit services to consumers, retailers and auto dealers in approximately 50 countries around the world. GE Consumer Finance, based in Stamford, Connecticut, offers a range of financial products, including private label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans and credit insurance. More information can be found online at www.geconsumerfinance.com.
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