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General Motors says it will cut incentives over the next two years

General Motors, the leader in the 2-year-old auto incentives war, wants to go on a rebate diet. But so far, GM can't get away from the all-you-can-eat buffet.

GM promises that it has a plan to cut incentives over the next two years by as much as half the $4,300 a vehicle it spent last year. Yet already this month, it has said it will give five-year/0 percent loans or $2,500 to $3,500 cash rebates on most of its cars and trucks through March to get the sales year going.

"If we don't get off to a fast start, it makes it hard to reach our objectives," said GM Chief Executive Rick Wagoner. Although many question whether GM will succeed, the whole industry is watching. GM, the world's No. 1 car producer, has set the pace for all automakers on incentive spending.

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These incentives are like crack cocaine, or so I'm told :rolleyes:. Customers are used to them (and I can't say I minded using them to purchase my car recently), and the auto companies like them because they do move sheetmetal. It'll be interesting to see how successful GM will be...
 
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