General Motors‘ decision to offer no-interest car loans after the Sept 11 attacks saved the company’s bottom line, Chief Executive Officer Rick Wagoner has said in remarks reported by Bloomberg.

Wagoner told reporters that the incentives kept orders up and helped GM to avoid shutting down ‘a bunch of plants’.

He added, ” Compared to lower production, we make more money doing this than running it the other way.”

According to the Bloomberg report Wagoner also said that GM’s North American operations have improved ‘way more than anybody thought’ but are not as profitable as he would like.