Finance Restrictions Hit GM Sales

General Motors Middle East (GM Middle East) reported a 19% drop in Q109 sales, largely due to more stringent conditions on car loans. GM Middle East's president, Mike Devereux, told Reuters that the availability of financing from banks, both for distributors and consumers, 'continues to be an area of concern.' However, he added that there are 'signs of that easing'. According to data compiled by local carmakers, overall vehicle sales in the region were down by 21% year-on-year (y-o-y) in

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