GM Offers "Loyalty" Incentive of Up To $1,000
According to Reuters, General Motors announced July 21 that it would be offering owners of GM vehicles a "loyalty" discount of as much as $1,000 if they buy or lease a new GM car or truck.
Reuters added that the program is in addition to the zero percent financing offer or cash incentives of as much as $4,000 on most GM vehicles.
The news source said that if owners of GM vehicles purchase a vehicle from the same brand they currently own, they will receive $1,000 cash back. The cash award is lowered to $750 back if they buy a different brand of GM.
Reuters added that the program expires Sept. 2, and excludes Hummer vehicles, the Cadillac XLR roadster and the Cadillac SRX mid-sized SUV.
According to Reuters, GM CFO John Devine said last week that total U.S. vehicle sales in July could hit an average annual rate of 17 million in July, which would make it the strongest month of 2003. He also said that the rise in incentives appeared to be moderating.
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