Pricing Supplement Dated July 8, 2003                      Rule 424(b)(3)
(To Prospectus Dated February 20, 2001)                    File No. 333-55440

                     GENERAL MOTORS ACCEPTANCE CORPORATION
                       Medium-Term Notes - Floating Rate
----------------------------------------------------------------------------
Agent:                       Merrill Lynch & Co.
Principal Amount:            $100,000,000.00
Agent's Discount
  or Commission:             $145,000.00
Net Proceeds to Company:     $99,855,000.00
Initial Interest Rate:       3.15563%
Issue Date:                  07/15/03
Maturity Date:               07/14/06
----------------------------------------------------------------------------
Calculation Agent:  GMAC
Interest Calculation:
      /X/  Regular Floating Rate Note
      Interest Rate Basis: / / CD Rate             / / Commercial Paper Rate
                           / / Prime Rate          / / Federal Funds Rate
                           /X/ LIBOR (see below)   / / Treasury Rate
                           / / Other
                                 (see attached)
      If LIBOR, Designated LIBOR Page / / Reuters Page: / / or
        /X/ Telerate Page: 3750

Interest Reset Dates:   Each January 14, April 14, July 14 and October 14.
                        The first  interest  reset  date
                        will be July 11, 2003. The final interest reset
                        date will be April 12, 2006.

Interest Payment Dates: Each January 14, April 14, July 14 and October 14,
                        commencing October 14, 2003 and ending July 14, 2006.

Index Maturity:         3 Months
Spread (+/-):           +2.05%

Day Count Convention:
      /X/ Actual/360 for the period from 07/15/03 to 07/14/06
      / / Actual/Actual for the period from / / to / /
      / / 30/360 for the period from / / to / /

Redemption:
      /X/ The Notes cannot be redeemed prior to the Stated Maturity Date.
      / / The Notes may be redeemed prior to Stated Maturity Date.
      / / Initial Redemption Date:
          Initial Redemption Percentage: ___%
          Annual Redemption Percentage Reduction:  ___% until Redemption
          Percentage is 100% of the Principal Amount.

Repayment:
      /X/ The Notes cannot be repaid prior to the Maturity Date.
      / / The Notes can be repaid prior to the Maturity Date at the option of
          the holder of the Notes. (See Below)
      / / Optional Repayment Date(s):
          Repayment Price:    %

Currency:
      Specified Currency: U.S. (If other than U.S. dollars, see attached)
      Minimum Denominations: ___________ (Applicable only if Specified
      Currency is other than U.S. dollars)

Original Issue Discount:  / / Yes     /X/ No
      Total Amount of OID:            Yield to Maturity:
      Initial Accrual Period:

Form:  /X/  Book-Entry              / /  Certificated

Other: /X/  Principal               / /  Agent
If as principal:
         / /  The  Notes  are being  offered  at  varying  prices  related  to
              prevailing market prices at the time of resale.
         /X/  The Notes are beings  offered at a fixed initial  public  offering
              price of 100% of principal amount.
If as agent:
         The Notes are being offered at a fixed initial public offering price of
         XX% of principal amount.