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Article: GM sales down 19pc in Middle East.
- Article from:
- Gulf Industry
- Article date:
- June 1, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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General Motors Corp's Middle East sales fell 19 per cent in the first quarter as customers struggled to secure car loans due to tighter lending restrictions at banks, GM's regional president has said.
Yet, while GM could face bankruptcy in the United States, its regional operation plans to introduce new car brands this year to help boost its market share from about 13 per cent now, said Mike Devereux, president of GM's Middle East Operations. "There are a lot of people who walk into showrooms who aren't able to buy because they can't get financing," Devereux told Reuters in an interview. Overall auto sales in the region fell 21 per cent in the first three months ...