GM beefs up incentives after a dismal January

[Rob]

GM beefs up incentives after a dismal January

Richard Truett
Automotive News
February 3, 2009 - 2:43 pm ET

DETROIT -- Coming off a January in which sales collapsed 49 percent, General Motors today announced a new round of incentives that includes 0 percent financing and more cash on the fenders.

Starting today and running through March 2, GM's Presidents Day Sale includes many of its best-selling vehicles, such as the Chevrolet Malibu and some versions of the Chevy Silverado pickup, Buick Enclave and Cadillac CTS.

Consumers can choose 0 percent financing for up to 60 months, 1.9 percent loans for 72 months or an additional cashback that ranges from $1,000 to $2,000 in addition to existing incentives.

More help may be on the way from GM's lending affiliate, GMAC. The troubled lender -- fresh from a $6 billion federal bailout -- has resumed financing for GM vehicle purchases. In January, GMAC financed 5,000 vehicle purchases for GM, up from zero in December.

 

[Lola's Mom]

Hah! First the heads talk about being able to deduct your auto interest, then they say the loans will have no interest ..... And now part of the Chrysler employee laid off, buy-out package will be a voucher for a new Chrysler product ....... Does anyone have a workable plan?? This meeting when the automotive heads start pleading their cases ought to be more entertaining than "The Biggest Loser" .... oh, hey ... maybe that's what this meeting should be called

 

[standby-V]

In my estimation there is no fix for this mess, they should have let all these banks and auto companys take a dive and who ever comes out of it is the winner.
The mom and pop stores and small business' don't get any help. The good ones survive and the bad ones go under...........that's just the way business is. There are way to many small donut shops out there anyway.

Hah! First the heads talk about being able to deduct your auto interest, then they say the loans will have no interest ..... And now part of the Chrysler employee laid off, buy-out package will be a voucher for a new Chrysler product ....... Does anyone have a workable plan?? This meeting when the automotive heads start pleading their cases ought to be more entertaining than "The Biggest Loser" .... oh, hey ... maybe that's what this meeting should be called