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CPM vs CPC Ads

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I was wondering - does Adsense do ONLY CPC ads, or does it have CPM ads as well? If so, do we have to manually select which we want to select? I ask because I know Google has high payout, but my CTR is virtually 0. I searched for some info about this and I saw that Google supposedly automatically switches to CPM if it thinks those will do better than CPC, but I don't know if there's any truth in that. Any ideas?
 
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They do offer CPM to advertisers

CPM ads are ranked for display according to their CPM bid, competing with other CPM ads and with CPC ads. A CPM ad always occupies the entire ad space, with either an image ad or other multimedia ad, or an expanded text ad.

If there are no CPM advertisers relevant to your page, if there's an available ad but the format doesn't match your display preferences and/or ad space dimensions, or if the competing bids are higher, you won't have any CPM ads.

Usually, CPM pays poorly for publishers. Rarely converts well for advertisers either - it's used primarily for branding.
 
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I don't think CPM ads are the case for your zero CTR. How's your traffic ? and also if you get decent traffic try changing ad placement.
 
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