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GM Adds Incentives to Clear Inventory

January 12, 2006

• States Want Stronger Used Car Rule • Industry Troubles Cloud LA Car Show • Carmakers Get Neither Love Nor Money From Congress • Taxpayers Headed For Automotive Bailout • Time May Be Running Short for U.S. Carmakers • Feds Move Closer to Carmaker Bailout • New-Vehicle Buyers Turn to the Web in Record Numbers --- • More about Auto Sales ...

In an effort to unload the cars and trucks that are not selling, General Motors Corp. has announced a new incentive plan, hoping to clear our its stagnant inventory.

GM is touting the promotion as "Instant Value Certificates." The automaker is offering its dealers the $250 certificates to be used as closing tools in the sale of GMC and Chevrolet SUVs and pickups.

Dealers will be given a specific number of certificates based on sales volume and other criteria and can offer customers up to four certificates or $1,000 in rebates in order to close a sale.

GM is also offering more cash rebates, though these incentives are smaller than last year. As an example, the rebates for full-size pickup trucks are now $1,500 per vehicle, down from $2,500 in December.

The "Instant Value Certificate" program" runs until February 28 and is primarily intended to help clear out aging truck models before the arrival of 2007 models later this year.

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