GM announces new incentives through end of summer
Today General Motors announced a new discount program for Chevrolet, Buick, Pontiac, GMC, Saab and Saturn (not Cadillac and HUMMER) that features a little bit of cash back and a lot of 0% financing. The industry is seeing a larger than normal number of people opt for financing because of rising interest rates, and GM's own 72-Hour Sale over the Fourth of July weekend that offered 0%-financing deals gave the company a boost almost big enough to reach its sales goal for July.
The new incentives will be marketed separately for each of the six brands participating, with Saturn taking the decidedly hassle-free approach of just lopping 10-percent off the sum of the sticker price and destination charges. The other brands will have a menu of financing options and bonus cash that range from 0% financing for 36 months all the way up to 72 months on some SUVs and big pickups. This new incentive drive will also extend financing and bonus cash offers on most 2007 SUVs and big pickups, though won't go so far as to offer 0% financing on any '07 models.
This push will take us all the way through the end of the summer and conclude on September 5th, which means GM will have survived the summer without offering us the enticing yet damaging carrot of employee pricing.
[Source: The Detroit News]
Reader Comments (Page 1 of 1)
Whydrive 3:18PM (7/19/2006)
How is this newsworthy? Toyota dealerships have been offering 0% financing on their cars for quite some time but I don't see any Autoblog posts about it. Whoopededoo.
Reply
Kamil 3:31PM (7/19/2006)
Give me 72-months, intrest/fee free on a new base 6-spd Vette and I'll get one. :)
Make it black w/ navi.
Reply
bob 3:41PM (7/19/2006)
I wish GM sold a car comparable to the Honda Fit. I really have no interest in the Aveo :(
Reply
Dave T. 4:09PM (7/19/2006)
whydrive,
toyota doesn't offer 0% on every car in every market. It's the "best" offer they have and because they range so greatly from location to location it is too difficult to track all their financing deals. For example the Highlander doesn't have 0% financing offered here in Chicago. But in South Florida it does.
Reply
Mike 4:19PM (7/19/2006)
I went to get a toyota corolla in 2001 at 0% left with 2.5% best they would give me - they were a bunch of cheating liars
Reply
Michael Karesh 4:28PM (7/19/2006)
Are the details posted anywhere yet? GMBuyPower still has the old incentives. As soon as I see the new ones I'll upload them to my database.
One unusual incentive is that Saturn will be offering 10% off. This doesn't sound like much, but because margins are so small these days the result is actually better than employee pricing assuming no rebates.
http://www.truedelta.com
Reply
15SecondFame.com 4:41PM (7/19/2006)
With all their sticker prices being lowered earlier this year and now either big rebates or financing options, the final transaction prices on some of their stuff is actually even lower than last year's "employee pricing". They just aren't calling it the same thing.
Go figure.
Reply
Jill 10:44PM (7/19/2006)
I think what GM is doing this year is GREAT. Lowering the price of all vehicles to make them affordable to all. Their 2007 Models are hot and if a full size suburban gets 24MPG I'm sticking with the American Revolution.
Reply
Stoneman 11:38PM (7/19/2006)
1. Get the true cost of the car using carcostcanda
2. Send out millions of faxes and emails.
3. Get the best price.
Or...
Haggle until you get nowhere.
Stoneman
http://www.stonemanautoreview.com
Reply
MarkWeb 6:33PM (7/20/2006)
Kamil,
While the Fit is clearly pick of the litter, the Aveo isn't the slouch we car fashionistas sometimes assume it is. Vince Burlapp gave the Aveo surprisingly good marks on his blog (Google for "burlapp blog" and you'll find the blog) and he is pretty perceptive and not easily fooled.
Reply
auto drive 7:01AM (10/08/2006)
Stoneman, you're wrong.
Reply