GM cutting prices
According to the Detroit News, GM is trying to refocus car buyers on the value and quality of its cars and trucks, using lower sticker prices to attract customers addicted to rebates and promotions.
After faltering sales in late 2005, GM needs to jumpstart sales for 2006 - a critical year for the automaker as it begins a painful restructuring to cut costs, while rolling out key new models.
The new initiative will be fleshed out by Mark LaNeve, GM's vice president of North American sales, service and marketing in an announcement Tuesday at NAIAS, under the umbrella of its Total Value Promise program. Likely early beneficiaries of the pricing program will be GM's new SUVs, which reach dealers next week. Expect prices to be cut on some existing models, too.
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