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Updated 2:14PM

Source: Automotive News Special Email Alert

DETROIT -- General Motors told dealers in a teleconference today that it would be launching a 0 percent financing sale starting Tuesday, June 24, while raising prices "across the board" for GM's 2009 models.

GM executives also told dealers that they plan on making some production shifts and that they hired Citibank to help review the Hummer brand's future.

Attempting to boost June sales, GM's Mark LaNeve told dealers in a conference call that GM would be starting what it calls a "72 Hour Sale." The sale starts June 24 and runs through June 30. LaNeve is GM's vice president of vehicle sales, service and marketing.

The sale will offer customers 0 percent interest for 72 months for most Chevrolet and Buick-Pontiac-GMC products, GM told dealers for those brands. As of 1 p.m. EDT, GM had not yet addressed the premium and Saturn dealers.

GM will also offer an additional $500 bonus cash to a customer who purchases a vehicle rather than leasing, say dealers who listened to the conference call.

According to dealers, LaNeve also said that GM would be raising prices on average by 3.5 percent for most 2009 vehicles. Dealers say LaNeve said the price increases would be across the board.

Dealers say LaNeve said that GM would be adding a third shift at its plant in Lordstown, Ohio. GM builds the Pontiac G5 and Chevrolet Cobalt compacts at Lordstown. GM will go on maximum overtime at its plants in Orion Township, Mich., and Kansas City, Kan. GM builds the Pontiac G6 and the Chevrolet Malibu mid-sized cars at Orion and builds the Malibu and Saturn Aura at Fairfax.

GM will also increase crossover production, dealers say. GM will add 3,500 GMC Acadias and 7,000 Buick Enclaves to the mix by year-end. GM builds those vehicles at the Lansing Delta plant near Lansing, Mich.
 

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Re: Report: GM To Announce New Incentive Program Tuesday; 0% For 72 Months - Large Tr

Anyone out there have additional information?
 

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0% for 72 Months; Citibank Screening Buyers for Brand

Got this in today from a loyal GMI member:

GM annouced to dealers zero percent for 72 months. Starts in the AM and runs thru next Monday.

Covers approx 80% of the inventory on the ground.

They also annouced Citibank has been retained to screen buyers for Hummer.
 

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0% Financing on GM full size trucks.

GM to offer zero percent financing on trucks



DETROIT (Reuters) - General Motors Corp <GM.N> is offering zero-percent financing for 72 months on pickup trucks and SUVs as record high gas prices have hurt sales of large vehicles, a GM dealer briefed on the plans told Reuters on Monday.

The offer, which covers full-size pickup trucks such as the Chevrolet Silverado, will start on Tuesday and last until the end of the month, the dealer said.

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Also not mentioned in this particular article is that there is an option to instead take off $7,000 for the Tahoe and Suburban, or $6,000 for the Avalanche. Starts tomorrow.
 

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Re: 0% Financing on GM full size trucks.

0% for 72 months! That's actually pretty awesome! I wonder how high the credit score must be?
 

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Re: 0% Financing on GM full size trucks.

do you know how many 20 year olds can afford something like that!:eek:
 

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I guess it is better to move the metal rather than let it rot and become less appealing. They are really going to have to control truck inventories in a much tighter fashion from here on out. Also, I understand the price increase with the devaluation of the dollar as well their own increased energy costs associated with manufacturing.
 

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It would be nice if they allowed full GM card points redemption. I presume its because they'd rather earn interest on the unused amount than sell more cars.
 

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Hey all-
I'm a sales rep at a BPG.
0% for 72 mo on most of our stuff. Mainly focused on G6, Torrent, Envoy, Lacrosse, etc.

They also added and additional $1K to the Yukon/Sierra Loyalty Bonus.
So now, a Yukon could have $7000 in rebates or 0% for 72 Months. Good with GMS or GSU. Or, $5000 on a lease. But mostly it is geared towards consumers purchasing, not leasing their new GM product.

Other than that, pretty typical end of quarter stuff, they did the same thing around 4th of July last year, and extended it through the holiday. Not really sure why they call it the "72 Hour Sale" since it lasts pretty much a full week, but, uh, it usually sparks interest.

I'm just trying to be positive here in good ol Michigan! Take Care:)
 

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Wouldn't it make more sense to sell fewer vehicles but actually make money off them? I'd rather sell 1000 trucks at $10,000 profit than sell 10,000 trucks at $500 profit.

Never understood giving **** away just so you can say you sold more than someone else.
 

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I see they want to sell Hummer, any idea on if they are cutting another brand?? I think thats what we all want to know....
 

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It would be nice if they allowed full GM card points redemption. I presume its because they'd rather earn interest on the unused amount than sell more cars.


Actually, you can! You just cant use it with a GM Discount, but all you have to do is tell the dealer- Sell it to me at Invoice! It really is as simple as that. Dealers just dont want to because we/they make more money if its sold under the GM Supplier Discount or GM Employee Discount plans.
 

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Anybody have a clue about what's prompting the 3.5% hike across the board?
 

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Wouldn't it make more sense to sell fewer vehicles but actually make money off them? I'd rather sell 1000 trucks at $10,000 profit than sell 10,000 trucks at $500 profit.

Never understood giving **** away just so you can say you sold more than someone else.
More sales means cheaper production costs, more possibility of repair work for dealerships, more advertising on the road, bragging rights, etc. If you're not selling a niche product that can demand higher prices, you've got to go with volume - like WalMart.
 

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Good idea for GM to raise the $$$ on the Malibu. I say it's about time they price the car in entry-level territory like the VW Passat. For too long GM has been pricing the Malibu along with Camry pricing, Accord pricing, and other appliance pricing.
 
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