Acc to press reports quoting 'a General Motors official', the number of vehicle loan applications being rejected by banks in the Middle East has risen from 5% to more than 20% due to the global financial crisis, Gulf News has reported. The UAE and Qatar are among the markets that have seen a significant rise in these cases. The situation is different in Saudi Arabia, where there are more cash buyers than customers purchasing cars through bank financing, General Motors Middle East operations president Mike Devereux said.
We live in a wired world. People are waiting for an update on the bail-out request by the Big 3 from Detroit. This will be more so for GMC, a popular brand in GCC and as such more focus on the status of the bail out specific to GM.
On a lifghter note, let me share : Imagine the Middle East Without General Motors
http://wiki.gmnext.com/wiki/index.php/Imagine_the_Middle_East_Without_General_Motors
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