GMAC Financial Services’ Moscow-based Russian operation GMAC-CIS has begun providing wholesale services to General Motors dealers in Russia.
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It will operate wholesale administration and be responsible for vehicle inventory management programmes for GM’s 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 said the Russian unit was established to provide maximum support for further growth of the automaker’s 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 authorised dealerships,” said Jose Maria Prous, regional manager GMAC Europe, in a statement.
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By GlobalDataThe wholesale programme 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 also established a 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,” the finance unit said.
GMAC originally 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.
