G.M. Buys a Subprime Lender for $3.5 Billion
Date: 2010-07-22T09:55:14.463
Author: AAA Staff
Editor note: DETROIT — General Motors said Thursday that it had agreed to buy a financing company, AmeriCredit, for $3.5 billion so it can lease more vehicles and increase sales to consumers with lower credit ratings.
The transaction, expected to close in the fourth quarter, gives G.M. a captive financing arm for the first time since 2007, when it sold control of GMAC Financial Services. G.M. recently considered starting a new financing arm or reacquiring GMAC, now known as Ally Financial, to strengthe
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View original artilce: http://www.nytimes.com/2010/07/23/business/23autos.html?hp
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