DETROIT — General Motors Corp. said Monday it is extending until Jan. 2 its successful zero-interest finance offer on most of its models.
The program was started Sept. 20 as a way to spur sluggish auto sales. Ford Motor Co. and the Chrysler Group of DaimlerChrysler AG followed suit within days.
Each company's program was scheduled to expire on Halloween, but it was so successful that GM extended the offer to Nov. 18, Chrysler to Nov. 19 and Ford to Nov. 20.
Jeff Bell, vice president of marketing communications for Chrysler, said the company had not decided whether to extend its own zero percent financing offer.
A Ford spokesman was not immediately available to comment.
GM's October sales soared 31 percent from October 2000. Sales of vehicles produced by Ford rose 36 percent and the Chrysler Group saw a 5 percent increase in sales over October 2000.
When GM initiated its "Keep America Rolling" finance program in the days after the Sept. 11 attacks, the automaker offered zero-percent financing for 36 months on all 2001 and 2002 Chevrolet, Pontiac, Oldsmobile, Buick, Cadillac, GMC and Saturn cars and light- and medium-duty trucks.
Reduced annual percentage rates — with longer financing terms — were also offered on all GM vehicles.
As of Nov. 19, the program will continue the zero-percent, 36-month financing program on all passenger cars and pickup trucks.
The Pontiac Aztek, Buick Rendezvous, midsize vans, all sport utility vehicles, full-size vans and medium-duty trucks are available at reduced finance rates and longer loan terms.
The program, for example, will offer 1.9 percent financing over 48 months for the Pontiac Aztek, 3.9 percent financing over 60 months for the Buick Rendezvous and midsize vans, 3.9 percent over 48 months for all utility vehicles and 5.9 percent over 60 months for full-size vans and medium duty trucks.
All Cadillacs, Chevrolet Corvettes, Saturn VUEs and Saturn L100 Special Editions are excluded from the program.
"Our decision to continue to 'Keep America Rolling' through the end of the year is to build on our positive momentum and overwhelming public reception to this program," Bill Lovejoy, vice president of vehicle sales, service and marketing, said in a statement.