GMAC halted leasing last summer. Does General Motors need more leasing programs, or are you happy with the leasing level you're at now, which is virtually nil?
Our leasing level is virtually nil. Leasing was by far and away the most expensive form of incentives that we had. And so, in some sense, I don't regret it at all. I'd like to have some leasing flexibility, particularly for premium brands. We have people actually working on changes in order to get this accomplished, but we have to do it in a different way. The truth today is I couldn't finance it anyway.
If and when we get to the point where we could do leasing on a different basis, we'd do it ourselves as opposed to having a financial institution keep the residual risks. Then it would stay on our books. We'd have systems ready to support it. But today we don't have that, and we couldn't finance it anyway.
So, do I lament the loss of leasing? In some cases, yes. In general, no.