|
GM to lease in the United States once again
GM to lease in the United States once again
Posted Tuesday, Aug 11, 2009, 1:56 pm in Employee News
General Motors Co., which saw its leasing dramatically curtailed last year and lost sales as a result, can again sell select cars and trucks to consumers nationwide with lease deals, a move that could boost sales, the Detroit Free Press reported.
That news follows GMAC Financial Services’ announcement Monday that it would begin offering new leasing programs for select GM vehicles in 45 states, the paper said.. Last week, GM announced a deal with U.S. Bank to lease in five other states, the Free Press said.
GM (which holds a small stake in financing company GMAC), and other automakers saw lease programs curtailed last summer as the global credit market contracted, a move that hurt new vehicle sales but was necessary as automakers tried to stem big losses on vehicles returned at the end of leases, the paper said. Many of those vehicles were worth less than the automakers had previously estimated.
GMAC said it was returning to the leasing business because of improved funding flexibility, rising used-car values and completed manufacturer restructuring efforts, the story said. (Detroit Free Press)
__________________
Rick
Nitro Year: 2007 (1 of 113,000 sold)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
|
Linear Mode
