GM to offer 60 day money back guarantee on all new vehicle purchases
General Motors wants to prove to you that their vehicles are up to snuff, and The New York Times is reporting that a new marketing initiative aims to get more customers behind the wheel of GM cars and trucks. The General's rumored Satisfaction Guaranteed program promises to give customers their money back within 60 days if they're not completely satisfied with their purchase. The new sales tool, which will reportedly begin Monday and run through November, may mark the first time a major automaker has backed their product with a money back guarantee. The new initiative will cover new Chevrolet, Cadillac, Buick and GMC models.
New GM Chairman Edward Whitacre stars in the new commercials designed to promote the porgram, reportedly uttering confident proclamations like "We're putting our money where our mouth is" and "May the best car win." That sounds a lot like the old Chrysler spots featuring then chairman Lee Iacocca to us – GM can only hope that its new chairman can capture the attention of the car-buying public as well as ol' Lido did.
The idea for the new initiative was allegedly hatched by GM's new board as a way to stir up customers post-bankruptcy. Details of the impending program are sketchy at this point as the General has yet to publish a press release, but if the marketing initiative starts Monday, we'll know soon enough.
[Source: The New York Times | Image: Bill Pugliano/Getty]
Reader Comments (Page 1 of 3)
John Johnson 1:06PM (9/10/2009)
I'm gonna go buy a Camaro SS for 29 days.
Reply
John Johnson 1:07PM (9/10/2009)
Er, 59, I'm also an idiot :)
Epyx 1:15PM (9/10/2009)
I think you only get store credit on a GM gift card.
youth driver 1:07PM (9/10/2009)
Talk about putting your money where you're mouth is. Bravo GM!
Reply
geo.stewart 1:09PM (9/10/2009)
I thought Chryco or Hyundai did this a few yrs ago? they buy back but after discounting for mileage and time. It was certainly better than trying to dump a month old used car but it still ended up costing you more than the out of pocket expenses
nice advertising scheme but not as a good as it sounds
Reply
bwzd7p2 3:39PM (9/10/2009)
It was Chrysler back in '06. At least I don't remember Hyundai's doing it. Couldn't find anything on Google if they did.
http://www.mobilemag.com/2006/06/22/chrysler-to-offer-30-day-money-back-guarantee/
The Other Bob 1:12PM (9/10/2009)
They learned something from Saturn after all.
Saturn had (has?) a money back guarantee and then a longer term trade-in guarantee.
Reply
Judy Zik 1:40PM (9/10/2009)
Exactly. Didn't Saturn do this as far back as the 90's? Hardly a new idea but not a bad one.
Aprime 2:30PM (9/10/2009)
Except it wasn't really a money back, you had to trade it in for another Saturn.
Aprime 3:01PM (9/10/2009)
Oh guys, I'm probably mixing up the Canadian guarantee with yours.
Epyx 1:13PM (9/10/2009)
Its ok if you really hate the car even if it does end up costing you a thousand bucks or so. Would have to see the fine print to understand how much the owner would be out. Is tax refunded as well.
Good program, I doubt it will be utilized often. Nice to know their is protection for buyers remorse or buyers reality after living with a car for a period of time.
Reply
Tool 1:14PM (9/10/2009)
The 60-day guarantee sounds a little gimmicky to me, but I understand GM's desperation to shift the dynamic.
Reply
Tool 1:46PM (9/10/2009)
P.S. Not sure the idea of GM Chairman Ed Whitacre doing the ads himself is going to work. Even through Big Ed is kicking mediocrity to the curb at the new GM, he unfortunately looks like all the bland GM executives of the past 20 years. So to the average consumer, he is going to look like more of the same.
The reason Lee Iacocca worked in ads is that he had some personality and was credible. Plus we all knew of him and his story.
If GM was smart, it would put up its new Brand VPs (Dewar, Nesbitt) as the new faces of GM. Especially Bryan Nesbitt -- this guy was a real smart choice. Doesn't look like a GM executive and would probably resonate with potential Cadillac buyers and where they want to take the brand.
Purplewon 2:31PM (9/10/2009)
Maybe the new face of GM could be their newest executive, he lives in a big White House in D.C. At one point over 50% of the country liked him ;)
sfdenny 11:44PM (9/10/2009)
I agree, a more dynamic and youthful executive would be better - esp one with a design background. Either way, to be a winner you have to talk like you are already ahead in the race and hitting the gas. So good move GM. No more with the mea culpa routine.
compy386 1:20PM (9/10/2009)
This sounds like a gimmick to me. Cars rarely have issues in the first 60 days. Then again a friend of mine's BMW with an automatic transmission stalled driving out of the dealership so I guess anything's possible.
Reply
Kelah 1:21PM (9/10/2009)
Hmm how many track days can I do in 60 days in a vette
Reply
Andrew Gillett 1:26PM (9/10/2009)
I like your style.
JayP 1:27PM (9/10/2009)
60.
elpapi32822 1:21PM (9/10/2009)
60days money back guarantee on new vehicles. I guess they GM are gona buy back used cars, It takes only one day of purchase and titled to the buyer to make it a used car. As far as I know once a GM product is bought it already loses about 20% of its value, so for GM the only way they can sell it as a new car again, either they reset the odometer or not have it titled and make sure that the buyer of the vehicle doesn't drive it.
I just hope that they don't go to capitol to ask for tax payer dollars again.Oops, I forgot that GM is own by the United States of America and UAW. I gues that thay have to go to the China and ask for lead again.
Reply