GM launching zero-percent financing sale, raises prices by 3.5 percent

During a dealer teleconference today, General Motors announced it would be launching a zero-percent financing sale beginning tomorrow, while simultaneously raising the prices of its 2009 vehicles.
The "72-hour sale" will run from June 24th through the 30th, and will offer customers 0-percent interest rates for 72 months on most Chevys, Buicks, Pontiacs and GMC vehicles. So far, there's no word on whether the offer will extend to Cadillac and Saturn. GM will also offer $500 in "bonus cash" to buyers who opt to purchase GM products outright rather than leasing them.

At the same time, the General is going to be raising the prices of 2009 models by an average of 3.5-percent "across the board," something that was bound to happen, according to Mark LaNeve, GM's vice president of vehicles sales, service and marketing.

On the production front, GM will be adding a third shift to its Lordstown, Ohio plant to increase production of the Pontiac G5 and Chevy Cobalt, while at the same time boosting production of the Pontiac G6, Chevy Malibu and Saturn Aura through the use of maximum overtime. Also of note: GM has hired Citibank to investigate the future of the HUMMER brand, which comes in the wake of GM's CEO, Rick Wagoner's announcement that "all options" are on the table regarding GM's faltering off-road brand.

[Source: Automotive News – sub. req.]

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