General Motors added new incentives on Friday to include $US2,000 cash rebates on most cars and trucks as well as $1,000 “loyalty cash” for current owners who buy or lease a new vehicle, Associated Press (AP) reported.
The deals become effective on Saturday and run until the end of March after the current programme expired on Friday, AP said.
AP said Ford was expected to announce new incentives in the next couple of days as its current programme expires on Monday.
AP said GM would offer $1,000 in cash toward the purchase or lease of any 2002 or 2003 model vehicle, excluding the Hummer and would also provide cash rebates of $2,000 on most ’03 Buick, Chevrolet, GMC, Oldsmobile and Pontiac models.
GM would offer zero-percent financing for up to three years on most ’03 passenger car and truck models, excluding Cadillac, Hummer, Saab and the Chevrolet Corvette, AP added.
AP noted that GM was already offering cash back and no-interest financing on most vehicles, though the new programme places a greater emphasis on existing customers.