GE Money and Michelin Move Forward with Consumer Finance Program

KETTERING, Ohio--GE Money and Michelin today announced an agreement to provide consumer financing through CarCareOne, a private label credit program managed by GE Money’s Sales Finance unit. Car owners can choose from 90-day, 6-month or 12-month no interest programs on their Michelin purchases. The program includes no annual fee and no down payment terms, as well as a full menu of promotional payment terms.

“Budgeting for tire maintenance isn’t easy – especially when unplanned needs arise,” said Parmeet Grover, brand director for Michelin. “We pride ourselves on offering competitive prices to car owners, and the CarCareOne program is a great addition to our service offering that further helps people get and pay for the tires and ongoing maintenance they need.”

“The GE Money CarCareOne program has enjoyed over 25 years in the industry, and we’re pleased to continue to work with leading partners like Michelin,” said Stephen Roe, vice president and general manager, Automotive, GE Money – Sales Finance. “More than $3 billion in automotive parts and labor costs have been financed through the program, helping consumers and businesses pay for the automotive maintenance they need to continue driving safely.”

Tires use up to 20 percent of the energy needed to operate a car, and with fueling costs continually on the rise, drivers are doing all they can to improve gas mileage, including looking to better performing tires. For more than 120 years, Michelin has obsessively worked to reduce energy consumption related to tire performance and The CarCareOne program can be used to purchase any of Michelin’s line of tires.

About Michelin

Dedicated to the improvement of sustainable mobility, Michelin designs, manufactures and sells tires for every type of vehicle, including airplanes, automobiles, bicycles, earthmovers, farm equipment, heavy-duty trucks, motorcycles and the space shuttle. The company also publishes travel guides, hotel and restaurant guides, maps, and road atlases. Headquartered in Greenville, S.C., Michelin North America employs more than 22,300 and operates 19 major manufacturing plants in 17 locations. For more information, visit http://www.michelinmedia.com.

About GE Money

With more than $190 billion in assets, GE Money, a unit of General Electric Company , is a leading provider of credit services to consumers, retailers and auto dealers in more than 55 countries around the world. GE Money, based in Stamford, Conn., 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 at www.gemoney.com. GE Money’s Sales Finance unit, based in Kettering, Ohio, provides private label credit card programs, marketing, installment lending and financial services for national and regional retailers, dealers, manufacturers and service providers in more than 20 industries including: automotive, home improvement, outdoor power equipment, sporting goods, powersports, recreational vehicles, consumer electronics and appliances, furniture, floor covering, marine, music, jewelry, and health care.

GE is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world’s toughest problems. 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 advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com.