It said affected people’s credit scores would improve an average of 20 points and lead to the approval of about 22,000 additional mortgages every year.
The Detroit automaker is in the midst of launching its newest EVs, including its new entry-level Chevrolet Equinox EV, which will start at around $35,000.
The announced buyback plans come amid uncertainty surrounding the adoption of all-electric vehicles, which GM has bet heavily on, and stalling customer demand for new vehicles.