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GM Gives Employee Discount to "Anyone"

May 24, 2005
General Motors Corp is asking its retired executives to give away employee vehicle discounts to anyone who wants them, according to the Detroit News. Savings from the discount can range from a few hundred dollars for the least expensive vehicles to several thousand dollars for high-end models.

• Car Prices: How Low Can They Go? • GM, Ford Look to Congress for Help • What Do the New Car Sales Add Up To? • Ford, Chrysler Jump on Car Sale Bandwagon • After a Horrible October, GM Cars and Trucks Go On Sale Again • Ford Extends Employee Discounts Through Sept. 30 • GM Employee Discount Sputters into September • GM Extends Employee Discount Program into August • Look Out! Not All Cars Are On Sale • Ford, Chrysler Join GM in Offering Employee Discounts • GM Gives Employee Discount to Anyone --- • Consumer Comments

Some analysts see the move as an act of desperation at a time when the world's number one automaker faces declining sales, unhappy shareholders and a hostile financial market.

The newspaper reports that the program began last month and runs through the end of May. Retired GM executives were told that they could offer employee discounts to two people a month in April and May.

A GM spokeswoman would not comment on the program so it's unclear how many sales it could generate.

The GM Employee Purchase Plan is generally available to eligible GM employees, retirees and their family members. Dealership employees and workers at suppliers for GM are eligible for discounts as well.

Through April, GM sales are down 4.9 percent and U.S. market share has slipped to 25.4 percent from 27 percent last year.

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