GM shares jump after GMAC won bank holding status

Newswire

DETROIT, Dec 26 (Reuters) - Shares of General Motors Corp jumped more than 18 percent on Friday after its auto-finance affiliate, GMAC, achieved eligibility for government loans, easing the risk of a failure that threatened to kill credit for GM dealers and buyers. GMAC, which finances three-quarters of the inventory held by GM dealers, won approval from the Federal Reserve on Wednesday to become a bank holding company, gaining access to government lending programs and staving off ...

Premium Content (PAID Subscription Required)

"GM shares jump after GMAC won bank holding status" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:

  All of WardsAuto's reliable, in-depth industry reporting and analysis
  Hundreds of downloadable data tables including:
  •   Global sales and production data by country
  •   U.S. model-line inventory data
  •   Engine and equipment installation rates
  •   WardsAuto's North America Plant by Platform forecast
  •   Product Cycle chart
  •   Interrelationships among major OEMs
  •   Medium- and heavy-duty truck volumes
   •  Historical data and much more!


For WardsAuto.com pricing and subscription information please contact
Amber McLincha by email: amclincha@wardsauto.com or phone: (248) 799-2622
 

Current subscribers, please login or CLICK for support information.

Already registered? here.

Sponsored Introduction Continue on to (or wait seconds) ×