• Oct 15, 2009

2010 Chevrolet Corvette Grand Sport Convertible - Click above for hig res gallery

When General Motors announced its 60-day money back guarantee, we were a bit surprised. The marketing scheme seemed like a pretty big gamble for the fresh out of bankruptcy automaker, but it would seem that the program isn't as risky as it first appeared. According to Automotive News, Bob Lutz, GM's Vice Chairman of marketing and communications, told members of the media yesterday that only 100 of the 150,000 buyers have opted for the program, and of the customers eligible, only one customer has returned his vehicle. Interestingly, Lutz reportedly said that the customer in question had purchased a Chevrolet Corvette equipped with a manual gearbox. What was wrong with it? Well, laziness, apparently, as the buyer returned it 30 days later in exchange for an automatic-equipped car. That may be a crime in the Court of Autoblog, but given that rowing wasn't his thing, we're sure said buyer was thrilled to have the option to switch.

So why aren't customers getting in on the 60 day offer? Because the General is giving them the chance of either participating in the 60 day offer or instead opting for a $500 rebate. And since the 60 Day Guarantee offer began one month ago, those 100 participants have another month to change their minds. Even if all 100 eventually decide to return their Chevy, GMC, Buick or Cadillac, we're thinking that's actually a pretty low number. The money back guarantee program runs through the end of November.

During that same media event, Lutz also took time to brag about GM's dramatically improved transaction prices, as the bombastic vice chairman pointed to new J.D. Power data that reportedly shows that average purchase of a GM vehicle jumped to $35,069 – up $8,000 from September of last year. The massive jump in transaction prices also outpaces by a sizable margin the industry at large, as AN quotes the industry average at $30,327. While the car market's average purchase price as a whole is still up $3,613, we're flat-out stunned that GM was able to raise its transaction prices by $8,000. We'd do the math ourselves, but we have no idea how.



[Source: Automotive News - subs req'd]


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    • 1 Second Ago
  • 39 Comments
      • 5 Years Ago
      Really, who needs 60-days to decide they don't like it. Most dealers will let you have an extended test drive, and if you don't know within a couple hours if you want the car you probably won't change your mind in 60-days.

      As I've said, my car is in the shop after a wreck, and I got a Saturn Aura as a rental. It took me 2 hours to realize that the car is trash compared to similar Japanese vehicles.
      • 5 Years Ago
      A lot of the supposedly "class leading" vehicles from GM are just "almost good enough".

      Like the Malibu. No navigation system at any price, no available manual tranny, no back-up camera, no iPod connectivity, no rear center arm rest. Meanwhile you can get all those things with the transplant's offerings. This is GM SOP.
        • 5 Years Ago
        Or the LaCrosse. Overweight, the base V6 is incapable of moving a vehicle that fat not to mention what it's like with the I-4, interior materials that *look* good (as long as you keep them out of sunlight) but still feel cheap when you touch them, good for GM but not as good as even the cheapest Lexus.
        • 5 Years Ago
        All it is, is just more moronic drivel from the biggest a**hole on autoblog named Brian. Rate down and rate down often.
        • 5 Years Ago
        Shamdidy, we do have competition and I and TENS OF MILLIONS of other Americans abandoned Detroit for the transplants, and what happens? Detroit cries to Daddy government to be bailed out with MY TAX DOLLARS because they are unable to compete.
        • 5 Years Ago
        A nav system in a Malibu? A 5 speed in a Malibu? Where do you live?
        1. The average Malibu buyer isn't interested in a $1400+ option when they can buy a portable nav and use it from vehicle to vehicle.
        2. Manual transmission (except in the sport segment) demand is too low (if at all for the Malibu) to justify adding production complexity, more calibration and additional certification.

        AKAIK, everyone that has driven a Lacrosse has loved it, and it's customers are not looking for a stoplight dragracer.

        I think we realize that you do not like General Motors and will never buy one; that's the great thing about today's auto industry - there are many great vehicles out there and lots of competition.
        • 5 Years Ago
        Fail, it does come with a nav system that works with OnStar and costs waaaaay less than a big screen nav. Also, it most certainly does have a MP3 input for the stereo.

        What sedan DOES sell many manual transmissions? Lame.

        You left out its class leading mileage huh?
      • 5 Years Ago
      If a person returns a car quick enough, the paperwork may not even have been sent to GM, banks or the DMV. In those cases, where the mileage was still low, the car may have gone back out on the lot and there would be no record.
        • 5 Years Ago
        Dang reply system - that was for Touian
        • 5 Years Ago
        That's up to the dealer. Not all states have a 3-day right of recision on cars. So in the cases you are talking about, wouldn't apply to this program since they have to keep the car at least 30 days to qualify.
      • 5 Years Ago
      Who takes Brian's ranting here seriously anyway?
      • 5 Years Ago
      PEOPLE RETURNING CARS???/? CAN'T SAY I'M SURPRISED?!! 8 GRAND MORE THAN LAST YEAR??? THAT MAKES AN AVEO COST MORE THAN A CAMRY!?1!!!11 HA HA, LOOKS LIKE MORE FAILURE FOR !!1!
        • 5 Years Ago
        You might want to re-read the article (or even just the headline). There was exactly one car returned.
      • 5 Years Ago
      The only thing that fails harder than GM is Matt in an autoblog.com comment section.
        • 5 Years Ago
        Says the MajorGeek
        • 5 Years Ago
        and your profile picture...
      • 5 Years Ago
      I am not surprised. When I worked at a Saturn dealer, rarely did anyone take advantage of the return policy and when they did it was usually to upgrade the car to something with an option they left off.
      • 5 Years Ago
      Dont forget they are cranking out a few hundred ZR1s a month which are selling for thousands over their 120k sticker. And the Camaros are moving without discounts.
      • 5 Years Ago
      $35k for the average vehicle. That is a lot of expense. Just for my budget.
      I'm a cheapie, but then again I have never needed a bailout from any of you guys. :)
      • 5 Years Ago
      I took the rebate. Figured that was the main reason.
      • 5 Years Ago
      You realize the program has only been in effect for 32 days. Meaning there have been only 2 days of eligibility to return a car. The real story is that so few take the offer at all.
      • 5 Years Ago
      Well, anyone brave biased or naive enough to buy a GM, won't be the one to return a GM. This is only for non-GMers to take a chance on their products, which I doubt have been many. Except for that one guy.
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