News of April 18, 1999
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Named GM Executive Vice President GMAC
|DETROIT -- General Motors Corporation announced today that John D.
Finnegan has been elected an executive vice president of General Motors, effective May 1,
1999. He also will be elected chairman of General Motors Acceptance Corporation (GMAC)
while continuing as its president. He will reprt to John F. Smith, Jr., GM chairman and
chief executive officer.
Finnegan has been vice president and group executive of
General Motors and president of GMAC since Nov. 17, 1997. "This promotion recognizes
the increasing importance of the GMAC organization to GM," Smith said. "We
intend to intensify GMAC's focus on the many growth opportunities in the financial
John D. Finnegan
|GMAC provides a broad range of products and services including automotive
financing, insurance, and mortgage banking. GMAC's operations span the globe with more
than 20,000 employees in 750 offices in 35 countries. GMAC has approximately 13 million
retail automotive, mortgage, and insurance customers and policyholders.
Over the last
four years, GMAC has grown significantly with serviced assets and net income up 34 percent
and 44 percent respectively, over that period. A good deal of this improvement has come in
GMAC's North American operations which have grown assets and reduced costs while working
more closely with GM's North American automotive-marketing units.
In addition, GMAC's auto financing operations have expanded geographically, entering
six new countries over the last three years. GMAC has also continued to diversify outside
the automobile-finance business as it has grown its mortgage and insurance businesses both
in the United States and overseas into industry-leading positions, and entered into new
business areas such as asset-based lending.
Reports International Sales For Dodge, Chrysler and Jeep(R) Brands
|Auburn Hills, Mich., April 8, 1999 - DaimlerChrysler (NYSE: DCX) announced
that total sales for the Dodge, Chrysler and Jeep(R) brands outside of North America were
down 15 percent for the month of March, with 16,562 units sold, compared to 19,529 units
sold one year ago.
Sales of those brands in Europe were 9,510, a 3 percent decrease over
sales of 9,838 units during the same month last year. Other regions include: Latin
America, with sales of 3,012 units sold, a 39 percent decrease from last year;
Asia/Pacific, with 3,196 units sold, a 9 percent decrease; and Middle East/Africa, with
844 units sold, a 32 percent decrease.
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