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GM Offering Truck, SUV Buyers $500 Gas Card

October 25, 2005

In an effort to increase leveled-off sales since the end of its summer pricing incentives, General Motors Corp. is giving car buyers a $500 gas card with the purchase of a 2005 or 2006 mid- or full-size pickup or SUV, the Associated Press reported.

Additionally, the automaker is reinstituting an old program that that allows drivers of leased GM vehicles to exit their contracts up to six months early if the lease expires between Nov. 1 and April 30.

The gas cards will be distributed according to dealer sales history.

GM, which kicked off the Big 3 summer employee pricing incentives, saw increased sales of 46.7 percent in June, the first month of the sales. Ford Motor Co. and DaimlerChrysler quickly followed suit, according to the AP report.

After the summer boost, sales waned 57 percent in the first days of October.

GM has taken a hit in its overall earnings, losing $1.4 billion in the first half of 2005. Even with the summer pricing boost, the automaker could still see losses of $450 million for the third quarter of the year, the wire report said.

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