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GMAC Business Expansion Appeals to Both GM and Non-GM Dealers

August 21, 2006

GM’s financing arm, General Motors Acceptance Corp. is pursuing business expansion strategies appealing to both GM and non-GM dealers, according to WARD’S DealerBusiness.

GMAC plans to remain the exclusive provider of GM’s auto-finance programs for a 10-year period.

GMAC’s Motors Insurance Corp. division has implemented a plan to broaden sales among non-GM dealers. The division offers extended service contracts, Guaranteed Asset Protection (GAP) coverage, floorplan insurance and dealership employee health insurance.

The deal, set to bring GM up to $14 billion in cash over a period of years, is due to close in the fourth quarter of 2006.

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