According to a Wall Street Journal report, GM will offer three-year loans carrying no interest for many of its 2003 model year models. Analysts says that it is a sign that ultra-competitive conditions in the US marketplace are set to continue for some time.

The report says that GM is expected to disclose details of the latest discounts this week.

Sources say that the August sales numbers have been strong and that stocks of unsold 2002 cars are now dwindling, leaving 2003 models at the forefront of marketing strategies.

The WSJ says that GM will offer zero-interest, three-year loans across much of its 2003 model year lineup and longer loans will carry modest rates.

Cash rebates will also figure in the offers to consumers, the Journal adds.

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