While General Motors Acceptance Corp. is on track to exceed its $2.5 billion income target for 2005, the earnings objective falls short of the record $2.9 billion earned by GMAC in 2004 and would end 10 consecutive years of earnings growth. General Motors Corp.'s financing subsidiary also announces a long-term strategic financing agreement regarding its U.S. automotive retail assets with Bank of America Corp. The deal, part of a recent trend by GMAC to develop new funding channels, calls ...
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