Subscribe to this page01 Nov 2006GM unit Alfa-Bank in pact on auto loan program, Dow
Jones
General Motors Corp.’s (GM) unit in the Commonwealth of Independent States has signed a partnership agreement with Alfa Bank on a joint auto loan program called GM Finance, Russian news agency Prime-Tass reported Wednesday, citing a GM official.
Under the program, Alfa Bank is expected to provide auto loans for a period of up to six years for purchases of all car makes sold in Russia by General Motors’ official dealers. No limitation as to the size of the loans is envisaged. All General Motors’ dealers are required to conclude agreements with Alfa Bank. The launch of the program is expected Jan. 1.
