GM Mideast 'not part of US chapter 11 filing'.
General Motors Middle East has announced that it is not part of General Motors' voluntary chapter 11 filing in the US to implement a '363' sale agreement.
General Motors in the Middle East, which operates under General Motors Overseas Distribution Corporation (GMODC), is a self-funded, vibrant and profitable enterprise and will continue to conduct business normally through its dealer network, as it has done for over 80 years, said a report.
General Motors Middle East will continue to provide customers and dealers with award-winning cars and SUVs along with the region's best customer care and parts availability.
All current and future vehicle warranties will be honoured as normal, the report added.
In the US, '363' is a proven court-appointed process that will allow the launching of the "new GM" as a leaner company with a significantly stronger balance sheet, a world class product line up, a global footprint The amount of geographic space covered by an object. A computer footprint is the desk or floor surface it occupies. A satellite's footprint is the earth area covered by its downlink. See form factor.
1. and industry leading expertise and technology.
Mike Devereux, president of General Motors in the Middle East, said: "General Motors is wholly committed to the region. We continue to bring award-winning vehicles and through our dealers, provide customers with the best possible ownership experience. Our launch plans for this year are on track and unchanged."
"We have already launched the Cadillac Cadillac
expensive automobile and status symbol. [Trademarks: Crowley Trade, 83]
See : Luxury CTS-V, Cadillac Escalade The Cadillac Escalade is a full-size luxury sport utility vehicle sold by the General Motors luxury brand, Cadillac. It was the division's first major entry into the popular SUV market. Platinum, Chevrolet Traverse This article contains information about a scheduled or anticipated .
It may contain preliminary or speculative information, and may not reflect the final version of the vehicle. and GMC GMC
See: Guaranteed Mortgage Certificate Sierra Denali. The iconic i·con·ic
1. Of, relating to, or having the character of an icon.
2. Having a conventional formulaic style. Used of certain memorial statues and busts. Chevrolet Camaro will enter showrooms in July. The Chevrolet Malibu The Chevrolet Malibu (named after Malibu, California) is a mid-size car produced in the United States by General Motors. It is marketed in the United States, Canada, Mexico, and Israel. and Cruze arrive in October as well as the all- new Cadillac SRX The Cadillac SRX is a mid-size luxury crossover SUV produced by the Cadillac division of American automaker General Motors since the 2004 model year.
Engine options include the 4.6 L 320 hp Northstar V8 and 260 hp High-Feature V6. . In December, the all-new GMC Terrain makes its Middle Eastern debut," he added.
"In response to the challenging market conditions due to the global financial crisis, we worked closely with our dealers and financial institutions to launch trendsetting and innovative customer offers. We achieved our regional first quarter sales target and outperformed the market."
Devereux concluded: "The new GM will be a lean, competitive, profitable and more customer-focussed enterprise. I am very confident about the opportunities for GM globally and look forward to continued success right here in the Middle East." -- TradeArabia News Service
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|Publication:||TradeArabia (Manama, Bahrain)|
|Date:||Jun 2, 2009|
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