GM offers employee prices to spur slow sales
Posted
Aug 20 2008, 06:00 PM
by
Ryan MacClanathan
Rating:
This post comes
from Joe Benton at partner blog ConsumerAffairs.com.
With sales down 18
percent so far this year, General Motors is offering automotive consumers deep
price cuts in a late summer effort to unload its remaining 2008 inventory.
The automaker will offer prices
usually reserved for company employees along with cash discounts of as
much as $4,000 on most 2008 and some 2009 models.
GM offered "employee prices
for everyone" during June of 2005
and sales increased 47% for the month. Some GM dealers reported that new
car and truck sales more then doubled during the
2005 promotion before dropping off again.
The GM sale will last until Sept.
2 and applies to every 2008 vehicle in stock except medium-duty trucks. The
2009 vehicles that are part of the sale include the Chevrolet Cobalt and HHR, Pontiac Vibe and G5, and Cadillac CTS. The
discounts available to consumers will vary by vehicle.
With 2008 proving to the worst year
for new car and truck sales since 1993, GM reported a $15.5 billion loss for
the second quarter of the year. GM has not reported a yearly sales gain in the U.S. since 1999.
Other articles of interest at
ConsumerAffairs.com:
Three years later: Pyrex dishes still go boom
Apple's Catch-22
Internet providers
admit to monitoring customers' Web surfing
