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GM Follows Chrysler With New Employee Incentive

April 28, 2003

General Motors has announced it has added a new sales incentive of a $1,000 rebate on most cars and trucks for the company's 160,000 US employees, to boost sales in April's final week, Bloomberg News reported.

The rebate, which ends on April 30, also is available to employees at the car maker's dealerships and parts suppliers, spokeswoman Deborah Silverman told the news agency. The incentive is in addition to current offers of no-interest loans or rebates of as much as $3,000, she reportedly said.

Bloomberg noted that GM extended no-interest loan offers to five years on almost all of its models in April because of slower-than-expected March sales. General Motors employees and their families already are able to buy vehicles for less than the invoice prices, according to the news agency.

"Every month we look at what to do to keep the market competitive and stay aggressive," Silverman told Bloomberg News.

The news agency said GM’s action follows a similar move by DaimlerChrysler AG's Chrysler unit which, on April 16, added an extra $500 rebate on six car models for employees and $1,000 more on most vehicles for workers at suppliers. Those rebates also end on April 30.

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