The financing arm of Detroit-based General Motors Corp. said as of
Nov. 1, it no longer will originate retail loans in the Czech
Republic, Finland, Greece, Norway, Portugal, Slovakia and Spain.
GMAC said it will assess the implications of the tough credit markets
in those countries and in its markets in Hungary and Denmark.
Gina Proia, a spokeswoman for GMAC, said the company's moves in Europe
are a result of a shortage of capital