General Motors has agreed to buy the rest of Ally Financial international auto-finance businesses, including operations in Europe, in a deal with proceeds of $4.2 billion.
The purchase by the GM Financial lending arm covers units in Latin America as well as Ally's 40% stake in an auto-lending joint venture in China, and operations in Germany, the United Kingdom, France, Italy, Belgium, the Netherlands, Sweden, Switzerland and Austria.
Ally, formerly called GMAC prior to GM's sale of a major stake in 2006, had owned UK warranty and GAP insurer Car Care Plan until selling that business this month to Am Trust Financial Services.
As editor, Tim is responsible for the media content, planning and production of AM's multiple channels (AM print and digital magazines, website, social media and contributing to our events planning). He interviews and writes about as many franchised dealer groups and UK divisions of motor manufacturers as possible, to explore the issues facing UK motor retail and understand what solutions dealers and suppliers are using to overcome these.
c u jimmy - 23/11/2012 14:40
G M have the exoertise to set up there own FINANCE arm as they did initalaly with GMAC Repeating the same mistake they made purchasing Fiat