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Opel Expects Financing Unit to Support Sales Growth

General Motors Co.'s (GM) German unit Adam Opel AG expects its new financing unit to contribute to the Opel's goal of increasing sales and market share, Opel Chief Financial Officer Michael Lohscheller said Monday.MAIN FACTS:-"(The creation of Opel Financial Services in early April) will bring additional momentum to our product offensive, with 23 new models and 13 new powertrains on the way through 2016," Mr. Lohscheller said. "A captive financial service entity strongly supports our sales growth plan and thereby will contribute to our strategic plan DRIVE! 2022."-Jaap Timmer, Chairman of the European Opel Dealer Association, said: "For us as dealers, this is a real advantage in terms of competitiveness."-On an industry average, about 50% of retail customers finance their car purchases through manufacturers' house banks, with the relationship between manufacturers and their financing houses allowing for more attractive joint offers at the point of purchase, Mr. Timmer said.-For Opel an...

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