GM to pay dealers $250 extra for every car sold through month's end

In a bid to slow a loss of sales and market share, GM is reportedly giving dealers $250 cash awards for every vehicle sold through the end of the month. According to an internal memo reported by Bloomberg News today, GM has seen more than a 9 percent drop in domestic sales this year. The $250 is good on any vehicle sold between August 23 and August 31 and it will be up to the dealers to determine how to use it. They can use the money as customer incentives or as spiffs for salesmen. GM already raised incentives and began offering 0% financing on large trucks earlier this month to counter a 22 percent drop in July sales. Production was also reduced at six North American truck plants as a result of the slide. Although the products are getting more competitive than ever, people are apparently still expecting GM to drop its pants offer deep discounts before they'll step into one of its dealerships with checkbook in hand.

[Source: The Detroit News]