Reply #69: GM to offer steep new U.S. incentives-dealers

[UpInArms]

http://news.yahoo.com/news?tmpl=story&cid=568&e=15&u=/nm/autos_gm_incentives_dc

DETROIT (Reuters) - General Motors Corp., suffering from a protracted slump in its U.S. auto sales, will announce on Wednesday that the same vehicle discounts available to its employees will now be offered to the general public, dealers said.

The new consumer incentives program is aimed at trimming bloated inventories of unsold cars and trucks and reversing the decline in sales and market share that prompted the world's largest automaker to report a massive $1.1 billion loss in the first quarter.

GM dealers based in Michigan said the employees discounts would be offered in addition to other incentives that include cash rebates, giving consumers thousands of dollars off the sticker price of virtually every 2005 model car and truck that GM sells.

GM and rival Detroit-based automaker Ford Motor Co. are both expected to report declines in May sales later on Wednesday. Ford has said it too was raising cash incentives on some of its slower-selling vehicles.

But GM has led Detroit's profit-gouging price war since it launched interest-free loan deals to draw customers into showrooms after Sept. 11, 2001, attacks on the United States.

...more...

Coming Soon! FREE cars and trucks!