Autoblog

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To lure buyers towards the all-new 2009 Hyundai Genesis luxury sedan, the Korean automaker is aggressively pricing lease programs. Traditional Hyundai customers choose to lease about 10-12 percent of the time. The Genesis, however, is aimed at a more upscale buyer -- a segment that tends to lease more often (according to Hyundai's estimates, 50 percent of the Genesis customers will lease the new sedan). To drive sales, the standard six-cylinder model, with a base price of about $33,000, will lease for $399/month (24-month lease with $2,199 due at signing). It's a deal that undercuts the Cadillac CTS by nearly $150/month, according to a retailer who sells both. With 80 percent of customers expected to choose the V6 model (we would too), the lease program is bold enough to drive traffic. In case you were wondering, the V8 model won't be in showrooms for another month, and by that time the lease program will have expired.

[Source: Automotive News, subs. req'd]

This afternoon Chrysler revealed more details on one part of its plan to extensively reduce its workforce by 13,000 workers between now and 2009. The details today concern the 2,000 salaried workers that will be leaving the company. Chrysler hopes it can entice at least 1,000 of those salaried workers to leave by June 30th of this year.

There are two deals on the table, one for those workers age 53 to 61 and the other for those 62 and older. At least 10 years of employment with the company is required to be eligible for either group. The yungins are being offered what's called the Separation Incentive Program, which is basically an early retirement package that waives any retirement benefit reductions that would have been incurred under normal circumstances. It appears those eligible for this group will also get 100% of their health care plan's medical credits. For those 62 and up that meet the requirements, there's the Special Early Retirement package that offers three months salary and either a $20,000 car voucher "grossed up for taxes" (I believe that means it's $20,000 after taxes) or a $20,000 contribution to their Retirment Health Account. This group would also receive 100% of their health care plan's medical credits.

Neither of these plans affect the many union workers under Chrysler Group employ. Details of those attrition offers are still being finalized.

[Source: Chrysler]