In hopes of moving some excess inventory, General Motors is launching a campaign of discounts and incentives for various models in their lineup.
Current inventory levels are the highest since GM’s bankruptcy back in June 2009 and the American automaker is allowing dealers to offer as much as $2,000 in customer cash on its 2012, 2013 Chevrolet Silverados and GMC Sierras. In addition, lease specials will be offered on the Chevrolet Malibu, Cruze, and Traverse.
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Inventory levels are high at GM with 788,194 vehicles, or a 106-day supply. The automaker is at risk of exceeding the high end of its year-end target of pickups, which was set at 220,000 or an 85-day supply. Production cuts and other moves are being considered to help reduce inventory.
As for the incentive, GM will be awarding dealerships “instant value certificates” at $250 per, and dealerships will receive two certificates for every five pickups sitting on their lots. Dealerships can apply up to eight of these certificates to any pickup deal. It will be up to the dealer to offer anywhere from $250 to $2,000 to close a sale – or even nothing.
[Source: Automotive News]