GM extends interest-free loans on SUVs
DETROIT, Dec 5, 2002; Reuters reported that General Motors Corp. said it would offer new interest-free loans on several models of sport utility vehicles, after a plunge in its U.S. market share during November.
The world's largest automaker, stepping up Detroit's long-running price war, said it was adding four-year and five-year zero percent loans on 13 SUV models. GM already offered three-year interest-free loans, but had charged some interest on longer-term deals.
GM also added a $1,000 rebate to a number of car and truck models, in addition to any rebates or interest-rate deals already offered on the vehicles.
The move comes after GM's market share in November fell to 25.2 percent, thanks in part to aggressive incentives from Ford Motor Co. and DaimlerChrysler AG's Chrysler arm