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GM Cuts Prices for February

Automaker increases incentives to move unsold units

By Joe Benton
ConsumerAffairs.com

February 14, 2008    Spanish

The automaker will give $1,000 cash back on top of existing rebates on more than 15 models including the pricey 2008 Buick Lucerne sedan, Chevrolet Silverado regular cab pickup and Pontiac G5 coupe. GM dealers can discount the GMC Yukon sport-utility vehicle as much as $3,000.

The 2007 Corvette is part of the new incentive plan. The hot sports car is usually left out when GM cuts prices for consumers.

The Saturn Vue SUV and Aura sedans are also included in the promotion.

Excluded from the GM sales pitch are all Cadillac, Saab and Hummer vehicles.

GM was the only U.S. automaker to increase sales last month with a 2.6 percent gain in deliveries. Sales were down 4.3 percent throughout the rest of the U.S. automotive industry.

GM incentives rose 2.7 percent in 2007 to and average of $2,975 per vehicle, according to Edmunds.com.

GM reported a $38.7 billion loss for 2007, the largest annual loss ever for an automaker.

GM has been struggling to turn around its North American business as the economy weakens. But CEO Rick Wagoner insists that the company made significant progress in 2007 by reducing structural costs in North America, negotiating a historic labor agreement and growing aggressively

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