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14.02.2008 – 12:07

GMAC Financial Services

GMAC Financial Services Starts Wholesale Business in Russia

Moscow (ots/PRNewswire)

- Continues GMAC growth in the region and supports GM sales
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.
GMAC successfully entered the retail business market in Russia
through a private label agreement with Alpha Bank in 2007. The
company conducts automotive financing business in 32 countries
throughout Europe.
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
Web site: