March Madness: GM brings back 0% financing and cash rebates
General Motors has decided to bring back 0% and reduced-rate financing on many of its models to save its sales efforts for March. No doubt the General is keen on putting up positive numbers for the month to compliment the other bits of good news that have signaled its turnaround may have turned the corner. The new incentives start today and include 0% financing for 36 months and reduced-rate financing for up to 72 months, in addition to an extra $1,000 rebate that can also be used by the customer. The vehicles eligible for the new incentives, which will last through April 3rd, include the usual suspects, as well as the new 2007 Chevy Silverado and GMC Sierra, which is a bit of a surprise. The automaker no doubt senses an opportunity to hit its main rival, the Ford F-150, where it hurts. Considering the current F-150 is now an older model than the new GMT900 trucks from GM, as well as the new Toyota Tundra, its position as King of the Hill in the truck country is in serious jeopardy this year.
[Source: Automotive News]
Reader Comments (Page 1 of 2)
Mike 2:10PM (3/15/2007)
I am still waiting for Autoblog to cover the lease deals run by Toyota, Honda, etc.....
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Tarditi 2:41PM (3/15/2007)
Honda lease deal: get what's on the lot, or move aside, 10 people are in line behind you.
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shawn 2:45PM (3/15/2007)
9 of those people in the Honda line are there for transmission repair.
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GrindingAxis 3:19PM (3/15/2007)
Transmission Repair? I have driven Honda Pilots for the last 26 mos, a 2004 with 95,000 miles and no problems. I bought a 2006, now with 26,000 miles and no problems. Should I know something?
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ugh! 2:57PM (3/15/2007)
You fail to mention the new Toyota Tundra with dealers offering up to $1,500 cash back on a model that has been on the market for a much shorter time then the GM trucks.
Proof:
http://www.edmunds.com/insideline/do/News/articleId=119933?imw=Y
Great "reporting" Johnny! You certainly are doing a fine job!
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thisislame 3:00PM (3/15/2007)
Toyota is only rebating their vehicle because shoppers in that category are used to incentives. What you don't know is that Toyota probably factored the rebate into the MSRP prices. Game over for GM and FORD...
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Gale 5:29PM (3/15/2007)
When is GM going to figure out they need to either:
1) Build vehicles worth the price, or
2) Lower the price to approximate the value of their stuff
Their telling everyone they're weaning off incentives one month only to install them the next -- and add to them the next, is crazy. They need to clean house and start over.
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Mr. Oak 3:06PM (3/15/2007)
"Honda lease deal: get what's on the lot, or move aside, 10 people are in line behind you."
Ridgelines are not work trucks, they're for recreational purposes only. Wusses that want a truck, but doesn't need a TRUCK. I give more respect to the Tundra than the Ridgeline anyday.
Know the difference between TRUCK and truck-like.
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Brian 3:09PM (3/15/2007)
RE: #5 by thisislame.
You're right on the money. The truck market is built around offering competitive rebates and cash back. Toyota knows this (and trust me, I am not speculating) which is why they are emphasizing these types of promotions more with Tundra than other Toyota models.
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Bryan 3:14PM (3/15/2007)
I love how every time the new GM trucks come out, or Toyota for that matter, they claim Ford is in trouble and better watch their backs. Yet, everytime, Ford still comes out the winner. Sure the new GM trucks are better than before, but still not as good as the current F150. The Toyota may actually be a full sizer now, but it does not even come close to the F150. It always amazes me how this stuff makes the big page and something like Nissan dumping its HD lineup and Toyota having suspended theirs is neither mentioned or in the case on here, it is hidden in autoblog green. That and the fact Toyota already has rebates on the Turd-ra. Pathetic!
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whofan 3:19PM (3/15/2007)
See the fanboy`s turn this topic into a Toyota Honda discussion.
In the face of truck building Toyota and Honda are totally irrelevant.
Back to the topic, Ford needs to design the box on the F150 different next time.
Them big high sides aren`t user friendly.
The Chevrolet/GMC sets the bar for the 1/2 ton pickup.
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GrindingAxis 4:09PM (3/15/2007)
'Game over for GM and FORD...'
It will take more than a $1500 incentive and the Billions Toyota puts into advertising to convert the millions of loyal GM and Ford truck buyers.
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shawn 3:21PM (3/15/2007)
GrindingAxis, wow, have you been in a cave somewhere?
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Bob in Cobb 11:17PM (3/22/2007)
GM is trying very hard to go bankrupt, but like everything else they do, they can't get it right. Some how some small kernal of GM is going to remain, 30 thousand dealerships competing for 10-12% of marketshare, 130 models in 7 brands with no clear definition between them. Maybe the Democrats will come up with some corporate welfare program for the clueless. Meanwhile it will be rebate, Rebate REBATE, 0% financing, -1% financing, -2% financing, we'll give you CASH to take the junk off our hands. Just keep it going 'til the manageme - - -wrong word - - clowns in charge can retire.
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Mike 4:04PM (3/15/2007)
This is hardly a big deal compared to the days of 0% for 72 months and $5000 off with their red tag sales. I pretty much all brands do similar things to move inventory every now and than, even Toyota's doing it with their brand new Tundras.
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Mike 4:05PM (3/15/2007)
On a side note, is there anyway to change my display name? I would rather not have myself confused with those who have conflicting views.
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Mike 4:57PM (3/15/2007)
I'm assuming most people on here are Americans, I may be wrong about that. But why are so many people hell bent on having the big three go under? I can understand if you wouldn't want to purchase an American car I suppose, but what about the hundreds of thousands of people that would be with out a job? Just seems ignorant to me that anyone would wish for something bad to happen to our own country. Hell it shouldn't even matter if your from Europe, your wishing for something terrible to happen to people regardless of who they are. Your an asshole IMO.
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UH2L 5:13PM (3/15/2007)
#5 What makes you think that GM and Ford don't factor in rebates into their MSRP's? I know for a fact that one of the two companies does for sure so I'm guessing that the other one does as well.
http://www.realitydriven.com
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Bruno 5:38PM (3/15/2007)
#4, Ugh.
Maybe YOU should do YOUR reporting a little better. That's on base models, a tiny segment. Go price one. It's already many thousands higher than the competion. So even with a $1500 rebate it's still bringing Toyota a higher price than a similar domestic truck. Tundras are pricey!
And isn't truck brand pride pretty ignorant and rednecky? We didn't build them or design them.
Btw, my next pickup will likely be a Silverado. Especially with these incentives. Imagine how big they'll be in 2 years when I'm ready to buy. My first one died at 1200 miles, but I'm willing to give them another chance.
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ThriftyTechie 12:07PM (3/18/2007)
This is an offensive move on the part of GM.
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