GM returns to employee pricing to lift sales
General Motors Corp, aiming to boost sagging sales, rolled out a major promotion for U.S. dealers on Monday that includes employee-level discounts on almost all the Chevrolet cars and trucks in its showrooms.
The discount offer takes effect on Wednesday and marks GM's return to a strategy it had abandoned in the last two years in an effort to make its pricing more transparent and to wean American consumers from fire-sale blowout deals.
But the downturn in U.S. auto sales has hit GM hard. Sales through July were down almost 18 percent and the automaker has faced pressure to cut costs amid signs that industry wide sales would remain slack in August despite lower gasoline prices.
"Desperate times call for desperate measures, and that's what we're seeing from GM," said Jesse Toprak, an analyst who tracks incentives for automotive Web site Edmunds.
Earlier, people briefed on the promotion had told Reuters about the new incentive plan. GM spokesman John McDonald confirmed the automaker would offer the employee pricing and said more details will be announced on Tuesday.
GM will offer employee discounts on all 2008 model year Chevrolets in addition to cash-back offers on slower-selling models such as the Chevrolet Silverado pickup truck, according to a dealer briefed by GM on the plan.
Views:0
- FULONGMA Exports 40 Compressed Garbage Trucks to Eurasian Continent 2022-03-11
- 3 FULONGMA Garbage Trucks And 200 Bins Were Donated to Honiara City Council 2021-09-09
- FULONGMA Ranked in Top 50 Environmental Enterprises in China 2021-08-31
- FULONGMA Airtight Pressure-fill High-efficiency Kitchen Waste Truck Is Coming 2021-07-02
- FULONGMA Dust Suppression Truck and Road Sweeper Set Off to Peru 2020-08-20
- FULONGMA Donates Anti-epidemic Materials to Shanghai International Resort 2020-06-05
- FULONGMA Multi-functional Dust Suppression Equipment Delivered to Mexico Client 2020-04-28
- FULONGMA, Scania Launch 3rd-generation Compression Garbage Truck in Hong Kong 2020-04-10
- Dongfeng Secured an Order of 400 Units Sanitation Truck Chassis from FUL ONGMA 2019-04-26
- GM's New Wuling Rong Guang Mini-pickup Truck Coming to China 2018-07-25
Submit Your Requirements, We Are Always At Your Service.
- BYD Stopped the Production of Fuel Vehicles
- Geely Began Test Runs of Green E-methanol Vehicles in Danmark
- 2022 SANY Global Dealer Summit Was Held Successfully Online
- BYD and Shell Partner on EV Charging across China and Europe
- Daimler Truck Significantly Increase Sales, Revenue and Net Profit in 2021
- Scania Year-end Report January-December 2021
- Hyundai Motor and Iveco Group Sign MOU to Explore Future Collaboration
- GAUSSIN Enters China, the Largest Truck Market in the World
- Over 1,200 Hydrogen-powered Vehicles Deployed for the Beijing Winter Olympics
- Chinese New Year Holiday Closure Notice
- China's Truck Exports Grew by 30% YOY to 63490 Units in January-February
- China's New Energy Heavy Trucks Grew Despite an Overall Slump
- Heavy-duty Truck sales in China Fell by 54% to 54,000 units in February
- SINOTRUK Achieves Sales of 27,725 Vehicles in January, 2022
- China’s Domestic Tractor Sales Exceed 40,000 Units in January
- 2021 JAC International Pickup Export Performance
- JAC Achieved a Great Result in 2021
- China's Truck Export in 2021 Reached a 10-year Peak
- Heavy-duty Truck Sales in China Fall 57 Percent on Year in January
- China Recorded Sales of 645000 Tractors in 2021