General Motors announced plans on Tuesday for zero per cent financing on many new vehicles in an effort to jumpstart weak sales a day after a government rescue for financing.
Loans at zero per cent would be offered for up to 60 months for many cars, with other loans ranging from 0.9 per cent to 5.9 per cent, GM said. GMAC, which is owned by Chrysler parent Cerberus along with GM, will get a government capital injection of $US5 billion ($A7.27 billion).
GM will get a loan of $US1 billion ($A1.45 billion) to participate in the reorganisation of GMAC as a bank holding company.
Loans at zero per cent would be offered for up to 60 months for many cars, with other loans ranging from 0.9 per cent to 5.9 per cent, GM said. GMAC, which is owned by Chrysler parent Cerberus along with GM, will get a government capital injection of $US5 billion ($A7.27 billion).
GM will get a loan of $US1 billion ($A1.45 billion) to participate in the reorganisation of GMAC as a bank holding company.
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