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GM Says 'No' to Consumers

No Down Payment, No Security Deposit, No First Payment, No Money Due at Signing


DETROIT - General Motors Corp. today announced its latest marketing program, "The GM Sign & Drive," which runs from February 7 through March 31, 2004. Qualified lessees are eligible for these GMAC SmartLease 48-month leases that require no down payment, no security deposit, no first month's payment, and nothing due at the signing of the lease other than tax, title and registration fees. Most 2004 GM cars and light-duty trucks are included in this program.

"'GM Sign & Drive' is a great deal and pretty simple, too," said John Smith, group vice president, GM North America Vehicle Sales, Service and Marketing. "In fact, this might be one of the easiest ways yet for consumers to get behind the wheel of a new GM car or light truck with very attractive leases. With the launch of this new program, and the availability of ‘24-Hour Test Drive' and ‘Hot Button,' there are now three good reasons to visit a GM dealership."

"24-Hour Test Drive" gives consumers an opportunity to take a vehicle home overnight and runs through March 15. "Hot Button," which is the largest vehicle giveaway in a two-month period, provides consumers the chance to win one of 1,000 GM cars and trucks, runs through February 29.

Examples of lease payments for qualified lessees include a 2004 Grand Am SE for as low as $199 a month, a 2004 Chevrolet Malibu at $229 a month, a Buick Rendezvous at $299, and a GMC Yukon SLE two-wheel drive for as low as $429.

Some of the products excluded from this program are HUMMER H1; some Oldsmobiles; Saturn ION 1, Red Line models, and L Series; Cadillac CTS-V, selected models of the Chevrolet Cavalier and Pontiac Sunfire, and some vans. "The GM Sign & Drive" is not available in the states of New York and Rhode Island, although attractive SmartBuy programs are available in those states as well as Texas.

A national advertising campaign including newspaper advertising begins on February 8.
 

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Just a thought from a fairly experienced marketer: what if GM did away with all rebates and rolled out a "price break" (ie: REDUCE THE PRICE) In this day and age of increasing prices, wouldn't it be good to hear that a company has 'you' in mind and lowers the price by $2500 or whatever the maximum rebates are? What do you guys think?
 

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I am pretty sure Chrysler is doing that for their Minivans. I think they are reducing prices by $2,500 or $3,000. I think that is smarter in the long run to just keep the pricing in line and not go rebate crazy when the dealers realize no one wants to pay over a certain amount for their cars.
 
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