Published:
GMAC Financial Services Starts Wholesale Business in Russia
MOSCOW, Feb. 14 /PRNewswire/ -- GMAC Financial Services today announced
that its Moscow-based Russian operation GMAC-CIS began providing wholesale
services to General Motors dealers inRussia. GMAC-CIS will operate the
wholesale administration and be responsible for the vehicle inventory
management programs of Saab, Opel, Cadillac, Corvette and Hummer brands in
Russia. The start of wholesale business inRussia continues GMAC's growth in
the European region, following recent expansion in Central and Eastern
European markets via private label agreements.
GMAC-CIS has been established to provide maximum support for further
growth of GM brands inRussia. "Our objective is to support GM's business in
Russia with high-quality GMAC products. The new vehicle inventory plan has
been tailored to the Russian market and provides a sound basis for further
expansion to enhance the competitiveness of GM brands and the authorized
dealerships," stated Jose Maria Prous, regional manager GMACEurope.
The wholesale program began this month with over 100 dealers throughout
Russia. GMAC expects wholesale business inRussia to total about 120,000 units
this year with additional growth anticipated.
GMAC has established a sound risk management system to provide a
foundation for future growth initiatives. As a leader in automotive finance,
GMAC will leverage its global expertise to provide its Russian customers
professional world-class automotive services including capability in wholesale
services.
GMAC successfully entered the retail business market inRussia through a
private label agreement with Alpha Bank in 2007. The company conducts
automotive financing business in 32 countries throughoutEurope.
About GMAC Financial Services
GMAC Financial Services is a global, diversified financial services
company that operates in approximately 40 countries in automotive finance,
real estate finance, insurance and commercial finance businesses. GMAC was
established in 1919 and employs approximately 26,700 people worldwide. For
more information, go to www.gmacfs.com.
SOURCE GMAC Financial Services
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