Car giant General Motors has raised incentives on certain vehicles to try to woo US customers back into the showrooms, according to Associated Press (20/7/00).
The step follows similar moves made by Ford last week and the Chrysler division of DaimlerChrysler AG back in the beginning of June.
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GM customers are being offered rebates of upto $2,000 on several models and on all of the company’s minivans. Certain sport utility vehicles (SUV`s) are being offered by GM with rebates totalling $2,500.
Ford is offering its customers rebates of $1,000 for its Taurus sedan and $1,500 on its Lincoln models.
Customers are also offered loans, with GM offering rates as low as 3.9 per cent – which is higher than the promotional rate of 0.9 per cent previously offered due to interest hikes – while Ford is offering a 0.9 per cent loan rate on its Taurus model and either 5.9 or 6.9 per cent rates on its Excursion SUV.
Recent interest rate increases, low consumer confidence and fewer customer visits to dealerships are said to be the reasons behind the downturn in car demand.
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