GM Wants to Provide Loans to a Quarter of its Dealers, J.P. Morgan Reports

In a report on the auto industry, J.P. Morgan reports that the Detroit News has reported that GM's (NYSE: 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.