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Article: GM's 0 percent financing helped calm a nervous nation after 9/11.(SUPP)
- Article from:
- Automotive News
- Article date:
- September 15, 2008
CopyrightCOPYRIGHT 2008 Crain Communications, 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)
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Byline: Ralph Kisiel
After the Sept. 11, 2001, terrorist attacks, the American economy spiraled down and auto sales slowed to a crawl.
The country needed leaders, and General Motors stepped up.
"I was right in the middle of it,'' says John Middlebrook, then vice president for vehicle brand marketing and corporate advertising. "It looked like we were going into a paralysis, both as a country and as a company.''
GM quickly devised a bold plan that jump-started auto sales and the economy.
In a matter of days, GM created "Keep America Rolling,'' an incentive program that offered 0 percent loans for nearly all models. It tried to ...