GM Reinstitutes Zero-Percent Financing on Select Models to Better Compete
DETROIT — A General Motors spokesperson told SubPrime Auto Finance News this morning that the automaker kicked off a 72-Hour Sale today that features zero-percent financing for up to 72 months on select 2008 models. This offer is only available for qualified buyers.
"This program, similar to other annual selling events, such as the Presidents' Day Sale and the Red Tag Year-End Event, is designed to stimulate sales during traditional automotive selling windows," said John McDonald, a GM spokesperson.
"GM's combination of offering terrific MSRPs and great incentives during these merchandising windows offers customers a unique value opportunity," he continued.
The zero-percent offer is not combinable with other existing GM incentive programs, he noted.
The models selected for this offer include:
Chevrolet: Suburban, Avalanche, Equinox, Colorado, Tahoe, Silverado, TrailBlazer, Uplander, Impala and HHR
Buick: Lucerne and Lacrosse
Pontiac: Torrent, Solstice, G6 and Grand Prix
GMC: Yukon and Yukon XL, Sierra, Envoy and Canyon
Cadillac: All Escalade models, SRX, STS, DTS
Hummer: H2 and H3
Saab: 9-7X, 9-3 Convertible
Saturn: Sky, Aura and Vue
Not included in this program are 2007 and 2009 model-year units, in addition to all hybrids.
To get the word out about the sale, GM said advertising will be done at the corporate division and LMA levels, including TV, radio, print and interactive programs. Additionally, point-of-sale material will be provided.
"It is normal practice, from time-to-time, to hold promotions to continue sales momentum," McDonald pointed out to SubPrime Auto Finance News. "The 72-Hour Sales is just such a strategic marketing activity and is one of several holiday shopping opportunities we see throughout the year.
"Other manufacturers also have annual sales events. The 72-Hour Sale is another example of GM using appropriate strategic and tactical incentive offers as part of our ‘Go to Market' strategy," he concluded.