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Auto Makers plan to end US zero-finance at the end of November

TOKYO, Reuters reported that Toyota Motor Corp said on Thursday it intended to stop offering zero-interest financing deals in the United States at the end of November.

Zero-percent and low-interest loans are at the heart of an industry price war as automakers scrabble to win back consumer confidence in the wake of the September 11 attacks.

Reuters said that General Motors Corp was the first to sound the battle cry, with others in the U.S. market soon joining the fray.

GM, Ford Motor Co and the Chrysler side of DaimlerChrysler AG have said they would offer their loan deals through to mid-November.

Toyota and Mitsubishi Motors Corp have said they will offer the deals through to end November.

Toyota only offers the deals on three older vehicles -- its Tundra pick-up truck, Corolla sedan and the Forerunner sports utility vehicle.