GM and SAIC to set up financing for second hand vehicles
Published November 3, 2010
Chinese Car News | CCTNovember 3, 20104:46 am
From Corp Finance Week:
US automaker General Motors Company (GM) and its Chinese partner Shanghai Automotive Industry Corp (SAIC) have formed a joint venture (JV) to tap into the used car market in China. The JV will sell used cars of GM brands as well as selected models of other carmakers in the country. GM China, has announced that the JV will establish about 20 facilities to purchase, repair and certify used cars for resale in the country within the next five years.
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