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GM: No drop in Dealers' 2005 Model Orders

August 24, 2004

DETROIT — General Motors Corp. denied that dealerships were limiting orders of the company’s 2005 models because of the high number of remaining 2004 models on the lots, Reuters reported.

The Wall Street Journal reported that dealers are concerned that big incentives on 2004 models are not as effective with consumers who are worried about the economy.

Rick Wagoner, GM chairman and chief executive, told Reuters that 2004 model inventories are higher than in recent years, but that this has not effected 2005 orders.

Wagoner told reporters that GM’s third-quarter North American production was down 5 percent compared to last year during the same period.

GM has just begun its annual celebration of Detroit’s automotive industry, an event that draws classic car collectors from across the country, according to Reuters.

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