GM to raise prices on 2009 models, cut production

[ronald mcretard]

AP
GM to raise prices on 2009 models, cut production
Monday June 23, 5:30 pm ET
By Tom Krisher and Dee-Ann Durbin, AP Auto Writers

GM to raise prices on 2009 models, cut production; plans sale to reduce some inventories

DETROIT (AP) -- General Motors Corp. told dealers Monday it plans to raise prices on 2009 models by an average of 3.5 percent despite a tough market that is forcing the automaker to cut production and discount its 2008 models.

Mark LaNeve, GM's vice president of North American sales, said in conference calls to dealers that the increases will allow GM to recover only part of the rising cost of steel and other commodities and the cost of safety and other features on the new models. The increases will amount to about $1,000 per vehicle.

GM already had increased the prices of its 2008 model year vehicles twice because of rising commodity costs, spokesman John McDonald said. The move comes a little more than a week after Chrysler LLC announced a 2 percent increase in the price of its remaining 2008 vehicles.

GM also said Monday it will further cut SUV and truck production, and it will run a sale June 24-30 to help clear out high inventories of 2008 pickups, sport utility vehicles and larger cars. The sale includes zero percent financing for up to 72 months.

"We're really just trying to spark the market at the end of the quarter," LaNeve said.

Continued at link... http://biz.yahoo.com/ap/080623/gm.html

[ronald mcretard]

GM also said Monday it will further cut SUV and truck production, and it will run a sale June 24-30 to help clear out high inventories of 2008 pickups, sport utility vehicles and larger cars. The sale includes zero percent financing for up to 72 months.

I've been thinking about looking at a Colorado this week if the deals are good enough. Does anyone know what it will be?

[fp115]

Originally Posted by ronald mcretard

I've been thinking about looking at a Colorado this week if the deals are good enough. Does anyone know what it will be?

So far its been announced that it will be a 0% sale. Not sure what else is going to be added to that yet.