In a report on the auto industry, J.P. Morgan reports that the Detroit News has reported that GM's GM CEO wants the automaker's financial arm “to provide loans to a quarter of its dealers, and to step in if dealer credit dries up.”
“The CEO envisions the company's loan portfolio at roughly ‘$8 billion to $10 billion,' as it enters the wholesale dealer business,” J.P. Morgan writes, reiterating the Detroit News report.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Posted In: Analyst RatingsAutomobile ManufacturersConsumer Discretionarydetroit newsGeneral MotorsGMJ.P. Morgan
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in