GMAC Financial Services Starts
Wholesale Business in Russia
Moscow - GMAC Financial Services
today announced that its Moscow-based Russian operation GMAC-CIS
began providing wholesale services to General Motors dealers in
Russia. 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 in Russia 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 in
Russia. "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 GMAC Europe.
The wholesale program began this
month with over 100 dealers throughout Russia. GMAC expects
wholesale business in Russia 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.