Mercedes to offer shariah financing

Mercedes-Benz has created two companies in Dubai that will offer shariah based financing. Spiegel

Daimler is hoping to boost its troubled sales with a financing and leasing company in the United Arab Emirates that offers Islamic-friendly financing. The new companies, joint-ventures with local Mercedes distributors, will give Mercedes dealers a host of financing services to entice more customers.

In a bid to boost sagging sales, Daimler Financial Services AG, the financial services arm of auto giant Daimler AG, has open two new companies in the Middle East that will finance cars under the rules of Islamic law.

Mercedes-Benz Finance Middle East and Mercedes-Benz Leasing Middle East will offer loans and leasing deals to customers of new and pre-owned Daimler vehicles that comply with Islamic law or Sharia, according to the company. The move will allow Mercedes dealers in the United Arab Emirates to offer a new range of financial services to their Islamic customers.

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Hummer sold to the Chinese for $150 million

From Washington Times

Nothing was more American than the Hummer.

It was Schwarzenegger, cigars and swagger, laughing in the face of scornful environmentalists.

Only now the Chinese are laughing.

General Motors sold the military-inspired off-road brand to China's Sichuan Tengzhong Heavy Industrial Machinery Co. for a reported $150 million on Friday, consummating a deal announced in early June.

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Global auto market may "collapse" in 2009: J.D.Power

Now more than ever is The Time To buy American !
Man up , buy a Chevy ,Support your country!

DETROIT (Reuters) - The global auto market may experience an "outright collapse" in 2009 amid growing concerns around credit availability of credit and general economic stress, an influential industry tracking firm said on Thursday.

J.D. Power and Associates forecast U.S. light vehicle sales would fall to 13.2 million units in 2009 after likely settling at 13.6 million units this year, adding that a pronounced recovery is more than 18 months away.

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"While the global automotive industry is clearly experiencing a slowdown in 2008, the global market in 2009 may experience an outright collapse," said Jeff Schuster, executive director of automotive forecasting for J.D. Power.

"While mature markets are being impacted more severely than emerging markets, no country or region is completely immune to the turmoil," Schuster said.

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