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Dec. Auto Sales Rise, But Automakers Face Woes As Deals Shrink GM Ends Its 0% Financing It sees $2,002 rebates as less costly, and hopes buyers understand them.(A)

Investor's Business Daily

| January 04, 2002 | COPYRIGHT 2002 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: IBD STAFF AND WIRE REPORTS

Interest-free loans boosted auto sales last month, but with deals winding down, carmakers may find out soon how much future business they lost.

GM said Thursday it's ending the 0% loans it used to spur auto sales after Sept. 11 and is replacing them with new cash rebates.

Market News said cars and trucks sold at a 12.9 million-unit yearly rate in December vs. 14.8 million in Nov. and 13.0 million a year ago.

GM's December sales grew 7%, helped by interest-free loans and strong truck demand.

Truck sales leapt 31% to 228,080 units, while cars fell 19.1% to 130,668. Results include Saab.

For 2001 as a whole, GM said its sales fell 1% to 4,904,015 vehicles.

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